Infinite Computer Solutions recorded a 22.3 per cent growth in net profit in the third quarter of the current financial year to Rs 20.44 crore, up from Rs 16.71 crore in the previous quarter.
The company however recorded a 2.8 per cent dip in revenue to Rs 160.90 crore from Rs 165.45 crore in the previous quarter mainly due to losses in foreign exchange movements. The revenue for the company is concentrated as the top client contributed 41.5 per cent to the revenue. The company has a total of 42 active clients.
As for the whole year, the company expects the net profit to be between Rs 77 crore and Rs 79 crore, representing year on year growth of 68.4 per cent to 72.8 per cent. The revenue for the year is expected to grow between 29 per cent to 31 per cent year on year to between Rs 640 crore to Rs 650 crore.
In another development, the Infinite Convergence Solutions, a subsidiary of the company has signed a strategic partnership with Motorola for supporting its software enabled SMS and MMS solutions.
The revenue from providing these services to existing clients of Motorola and new clients of both Motorola and Infinite will be shared between the two companies. Infinite expects revenue of around $20 million from the partnership in the next financial year.
source: stockwatch.in
