Infinite Computer Solutions yearly net up 35 percent

May 10th, 2011 - 7:56 pm ICT by IANS  

Bangalore, May 10 (IANS) Leading IT services firm Infinite Computer Solutions (India) Ltd reported net profit of Rs.107 crore ($24 million) for fiscal 2010-11, registering 35 percent year-on-year (YOY) growth.

In a regulatory filing Tuesday, the listed firm said revenue for fiscal under review (FY 2011) at Rs.883 crore ($194 million) was up 33 percent YoY.

Similarly, for fourth quarter (January-March) of the fiscal, net at Rs.30 crore ($6.7 million) was up 37 percent YoY and revenue at Rs.248 crore ($55 million) 33 percent up YoY.

The city-based export firm provides IT services, infrastructure management services and intellectual property leveraged solutions to clients worldwide.

“For new fiscal (2011-12), we expect revenue to grow 27-29 percent YoY in dollar terms to $245-240 million (Rs.1,100-1,125 crore) and net profit of 14-18 percent YoY to $27-28 million (Rs.121-125 crore),” chief executive Upinder Zutshi said in a statement here.

Operating profit was Rs.148 crore ($32 million) for FY 2011, an increase of 22 percent YoY, and Rs.43 crore ($9.4 million) for fourth quarter, up 17 percent YoY.

The company had 14 clients, including four from the fourth quarter.

“We have signed an agreement with a large telecom equipment maker for a joint go-to-market in the telecom service space,” Zutshi said but did not name the client.

The company’s global headcount increased to 4,806 employees, including 3,542 in India operations. Attrition stood at 17 percent.

“We have had a strong year in terms of revenue and profit growth, which were higher than the guidance numbers,” Zutshi added.

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