HYDERABAD: Infotech Enterprises Limited announced its un-audited results for the third quarter ended December 31, 2006, passed by its Board today.

According to an Infotech statement, the PAT of the company after share of joint ventures stood at Rs 187.7 million, up 41.5 per cent from Rs 132.7 million posted during the year-ago quarter. The operating revenues rose 52.1 per cent to Rs 1430.4 million from Rs 940.6 million while operating profits showed an increase of 81.5 per cent to Rs 322.6 million as against Rs 177.7 million.

Sequentially, the PAT after share of JVs dipped to Rs 187.7 million from Rs 202.6 million. Operating revenues went a shade high to Rs 1430.4 million, up nine per cent from RS 1312.8 million reported during the previous quarter of this financial year. Operating profits during October-December rose 13.8 per cent to Rs 322.6 million over the second quarter's Rs Rs 283.5 million.

“This quarter witnessed growth amongst both the verticals on the back of significant ramp up in the existing clients," said BVR Mohan Reddy, chairman and managing director of Infotech. "While the existing clients contributed to 6.5 per cent of the sequential growth, the rest 2.5 per cent came from new customers and on account of exchange rate fluctuations."

He further said: "While the momentum in the existing service offerings is encouraging, we are building new practice areas, specifically in the EMI Vertical to increase the visibility for the Company in the forthcoming years. Operating margins, which are at 22.5% this quarter may impact to an extent on account of these investments, but we feel it’s the right juncture for these investments to be made."

"The company has participated in various bids, several of these to be awarded during Quarter 4. The pipeline is extremely healthy and we strongly believe that the growth momentum will continue,” Reddy added.