3i Infotech reports first quarter results

Mumbai - 28 July 2010

Revenue grows by 6.8% to Rs. 643.37 crores (USD 140.70 Mn) and profit to Rs. 62.06 crores (USD 13.57 Mn) for the first quarter FY 2010-11

3i Infotech, a global provider of IT solutions and one of India’s largest software product companies*, today announced its operating results for the first quarter ended June 30, 2010.

FINANCIAL HIGHLIGHTS

Consolidated results for the 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:

• Mr. Hoshang N. Sinor, Chairman; Mr. Bruce Kogut and Mr. Dileep Choksi as Members

The Fund Raising & Acquisitions Committee has been re-constituted as follows;

• Mr. Hoshang N. Sinor, Chairman; Mr. Ashok Jhunjhunwala Mr. Bruce Kogut and Mr. Samir Mitter as Members


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