Nov 09, 2012
NEW DELHI: IT firm Infinite Computer Solutions today posted a 1.65 per cent increase in profit after tax to Rs 31.25 crore for the quarter ended September 30, 2012 on the back.
This is against a profit after tax (PAT) of Rs 30.74 crore in the same period last year. On sequential basis, however, its PAT declined 11.69 per cent from Rs 35.39 crore registered in April-June 2013 quarter, the company said in a statement.
"The decline in profits on sequential basis is mainly because of forex loss of USD 1.5 million." Infinite Computer Managing Director and CEO Upinder Zutshi said.
The company's revenues grew by 35.30 per cent to Rs 347.93 crore in the quarter under review from Rs 257.14 crore in Q2 FY12. Sequentially revenues were up 9 per cent from Rs 319.19 crore in April-June 2013 quarter.
The company is maintaining its annual guidance of Rs 1,380 crore of revenues and Rs 146 crore PAT in the current fiscal.
The company added 6 new clients in the quarter and has 62 active clients.
The company's cash and cash equivalents increased to Rs 183 crore in the reported quarter from Rs 181 crore in the previous quarter, he said.
The company added 320 (net) people during the quarter, taking its global headcount to 4,655 as on September 30, 2012. India headcount of the firm stands at 3,200 employees.
The Board of Directors have recommended an interim dividend of 60 per cent (Rs 6 per share) for the six months ended September 30, 2012, the statement said.