As per a recent update, Infotech Enterprise Limited has announced its third quarter, financial results for 2014. The financial highlights of the results show that the company’s revenue growth in INR is Rs. 5,784Mn, which is up 5.3% QoQ and 21.7% YoY. The net profit was Rs. 685Mn; Down4.3% QoQ and Up 12.3% YoY.
In terms of business highlights, the company achieved robust growth in all 4 business units, led by performance in HTH at 11.4% QoQ and DA at 9.5% QoQ on US$ basis. Europe and US posted growth of 10.1% QoQ and 7.3% QoQ respectively on US$ basis.
BVR Mohan Reddy, Chairman and Managing Director, Infotech Enterprise said, “After four quarters of flat business, we saw significant growth in our business for this quarter. All the four business units grew, three of which recorded the highest ever quarterly revenue. We are seeing increasing traction and spend from our customers across the world. While overall growth is driven by the growth in top-20 customers, I am happy to note that this is across industries and the customer base. Future looks promising as reflected in current order backlog and pipeline. We are confident of a stronger H2 and equally strong FY 15 on revenue, operating margins and net profit.”
Gross addition and net addition for the quarter was 801 and 319 respectively.
