i-flex Q4 net soars 90%, to pay 100% dividend

i-flex solutions posted a 90% increase in consolidated net profit at Rs 103.8 crore for the fourth quarter ended March 31, 2005 as compared to Rs 54.7 crore for the quarter ended March 31, 2004. Revenue increased 71% to Rs 358.6 crore for the quarter ended March 31, 2005 from Rs 209.3 crore in Q4FY04.

According to a release issued by the company to the BSE today, the company has recorded a 30% jump in consolidated net profit at Rs 232.4 crore for the year ended March 31, 2005 as against Rs 178.8 crore for the year ended March 31, 2004. Revenue increased 44% to Rs 1138.6 crore for the year ended March 31, 2005 from Rs 788.1 crore in FY-04.

The company, on a stand-alone basis, has posted a 58% rise in profit after tax at Rs 74.72 crore for the fourth quarter ended March 31, 2005 as compared to Rs 47.41 crore in the same period last year. Revenue increased from Rs 172.11 crore in Q4FY04 to Rs 270.86 crore for the quarter ended March 31, 2005.

The company has reported a profit after tax of Rs 197.64 crore - a 12% rise for the year ended March 31, 2005 when compared with Rs 175.88 crore in FY04. Revenue increased from Rs 684.46 crore in FY04 to Rs 902.86 crore for the year ended March 31, 2005.

The board has recommended a dividend of 100% i.e. Rs 5 per equity share.

Rajesh Hukku, chairman & managing director of i-flex, said, "We are pleased to announce an excellent quarter with strong growth across our entire portfolio. With our enhanced solution capability, we are well poised to help our customers meet the demands of an increasingly complex and competitive environment."