3i Infotech, a provider of IT solutions and one of India’s largest software product companies, announced its operating results for the first quarter ended June 30, 2010.
Revenue for the quarter was Rs. 643.37 crores (USD 140.70 Mn), representing a growth of 6.8% from the corresponding quarter of the previous year. On a sequential basis, the revenue grew from Rs.632.60 crores (USD 137.41 Mn) in Q4 FY10 to Rs. 643.37 crores (USD 140.70 Mn) in the current quarter.
Profit before interest depreciation and tax (PBIDT) grew by 5.6% to Rs. 130.32 crores (USD 28.50 Mn) over the corresponding quarter of the previous year. In Q4 FY10, PBIDT was at Rs.128.17 crores (USD 27.84 Mn)
Profit after tax and before minority interest stood at Rs. 62.06 crores (USD 13.57 Mn), representing a net margin of 9.6%.
Earnings per share (EPS) for the current quarter is at Rs. 3.12 against Rs. 4.36 in the same quarter of the previous year. The current quarter EPS is on the expanded capital base arising out of the equity issuances.
Commenting on the results, Mr. V. Srinivasan, Managing Director & Global CEO,
3i Infotech Limited, said, “Though there has been a noticeable increase in IT spending, cost effective and comprehensive solutions are still a priority for the customers. It has been our constant endeavor to customize our services to keep pace with the changing demand patterns and I am confident that our flexibility will be our driver for growth even in the current competitive environment.”
Re-constitution of Board Committees
The Board Governance Committee has been re-constituted as follows:
• Hoshang N. Sinor, Chairman; Bruce Kogut and Dileep Choksi as Members
The Fund Raising & Acquisitions Committee has been re-constituted as follows;
• Hoshang N. Sinor, Chairman; Ashok Jhunjhunwala Bruce Kogut and Samir Mitter as Members
D.C.