Infotech Enterprises

Infotech's net up by 15 percent

Infotech's net up by 15 percentHyderabad, April 24  :  Infotech enterprises, a Hyderabad-based engineering solutions provider, Thursday said its net profit during 2013-14 stood at Rs. 266 crore, an increase of 15 percent over last fiscal.

The annual revenue of the company was Rs. 2,206 crore, a jump of 17.8 percent over the previous year.

Infotech chairman B. V. R. Mohan Reddy told reporters that the firm registered a revenue of Rs. 595 crore in the quarter ended March 31, a growth of 28 percent year-on-year. The net profit during the fourth quarter was at Rs. 70 crore, up 28 percent.

Infotech acquires US-based Softential

Infotech-Enterprises-SoftentialHyderabad, March 7 : Infotech Enterprises Limited, an engineering solutions provider, Friday announced that its wholly owned subsidiary, Infotech Enterprises America, Inc. has signed a definitive agreement to acquire Softential, Inc. headquartered in US' Virginia.

Hyderabad-based Infotech said it will pay 1.1 times FY13 revenue as upfront and one year earnout based on financial performance parameters. The revenues of Softential were $17 million.

"Earnout amount can't be disclosed due to disclosure restrictions," the company said in a statement here.

Infotech posts 22 percent revenue growth

Infotech-EnterprisesHyderabad, Jan 16 : Engineering solutions company Infotech Enterprises has reported a 22 percent growth in revenue at Rs. 578.4 crore for the quarter ended December 31, 2013, against Rs. 475 crore in the like period last year.

The Hyderabad-based firm posted a 12.3 percent rise in net profit at Rs. 69.39 crore for the quarter, compared to a profit after tax of Rs. 61.82 crore in the corresponding quarter of the previous year.

Infotech shares slip after the firm posts fall net profit

Infotech shares slip after the firm posts fall net profit Stock in Infotech Enterprises slipped 2.85 per cent to Rs 163.75 a share on the Bombay Stock Exchange on Thursday, after the engineering services provider posted a 22.36 per cent fall in profits for the quarter ended March 31.

Net profit slipped a whopping 53.40 per cent to Rs 43.16 crore in the three months ended March 31, as against Rs 92.61 crore in the corresponding quarter of the previous year; even as sales increased 13.89 per cent year-on-year to settle at Rs 263.23 crore in the quarter under review.

Infotech's Q4 net down 12 percent

Infotech-Enterprises-1Hyderabad, April 25 : Global engineering solutions company Infotech Enterprises has reported Rs. 54 crore net profit during the fourth quarter ended March 31, down by 12.3 percent over the previous quarter.

The revenues during the quarter were Rs. 464 crore, down 2.2 percent QoQ but an increase of 11.3 percent compared to the same quarter previous year.

In dollar terms, the revenues were $86 million, up 3.6 percent YoY but down 1.9 percent QoQ.

Infotech opens office in Silicon Valley

Infotech-Enterprises1Hyderabad, April 17 : Infotech Enterprises, a global engineering solutions company, has opened its office in the heart of Silicon Valley in the United States.

The company's founder and chairman, B. V. R. Mohan Reddy, was joined by local dignitaries to launch the latest addition to Infotech Enterprises' global engineering footprint, said a company statement here.

The new office is currently hiring engineers with experience in ASIC design and verification, analog mixed signal verification, custom layout, DFT, embedded software and other technologies to support on-going and new innovative programs.

Anand Rathi Securities: Sell InfoTech, aim of Rs 175

Infotech-EnterprisesAnand Rathi Securities seems to be bearish on InfoTech Enterprises and has suggested a sell rating on the stock with a goal of Rs 175 in its October 14, 2010 research report.

InfoTech Enterprises EBITDA profits decreased 50bp qoq on report of wage hikes (subsequent to a 557-bp qoq fall in 1Q) as even along with healthy 15.8% volumes for the UTG (6.4% organic) and 13.2% for the EMI verticals.

Organization signifies that employing a high-cost sales team shall be holding margins in check.

Infotech buys USA's Wellsco

Infotech buys USA's WellscoInfotech Enterprises Ltd, Indian software firm has taken over US-based Company Wellsco Inc., the company said on Tuesday. Wellsco is into the business of network engineering and management and the deal has been done since Infotech wants to spread itself in the telecommunications sector.

While it was disclosed as to how much money is involved in the deal, it is going to be an all-cash deal and is said to be funded by Infotech's own funds.

Infotech Enterprises inaugurates new learning center at Hyderabad

Infotech Enterprises inaugurates new learning center at HyderabadInfotech Enterprises, leading worldwide IT Services Company has announced that it has opened high-tech learning centre at the Manikonda plant, Hyderabad. In a declaration, the company said that the new learning centre is equipped with three full fledged training halls and e-learning centre.

The centre is also having technical training class room as well as Library.

The sources informed that training programs provided in this plant range from Soft Skills, Programs for Senior Executives to Technical Training programs.

Buy Infotech Enterprises Ltd For Long Term: Abhishek Jain,

InfotechEnterprises Ltd, promoted by B V R Mohan Reddy was incorporated as Infotech Enterprises Pvt Ltd in August 1991 for creating facilities for software development and its export. Commercial operations began in September 1992. Company went public in March 1997. Company's first project on creation of facilities for Computer Aided Design and Drafting and Geographical Information Systems (GIS) was successfully completed in September 1992, with aid from IDBI under its Venture Capital Scheme.

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