InfoTech net up 67%, to give 1:1 bonus

Hyderabad: InfoTech Enterprises Ltd, the Hyderabad-based GIS, software and engineering services company, has earned a Rs 100.47-crore revenue during the financial year ended 31 March 2002, registering a 67-per cent increase from Rs 60.20 crore earned during the previous financial year.

During the same time, the company’s net profit has grown to Rs 28.76 crore - 67 per cent up from Rs 17.23 crore. The consolidated group income during the financial year was Rs 136.20 crore, compared to Rs 91.16 crore last year.

“This year InfoTech witnessed several key achievements. We crossed the threshold revenue figure of Rs 100 crore - a remarkable increase of over 10 times in the last four years. We extended our relationship with Pratt and Whitney, one of the largest global aircraft engine manufacturers, during the year; this is most significant ever by an Indian engineering company. We also achieved the SEI-CMM Level 5 during the year only eight months after the Level 4 assessment,” says InfoTech chairman and managing director B V R Mohan Reddy.

 The board of directors of InfoTech has also recommended a bonus issue of 1:1 and a 24-per cent dividend for the financial year as against the 22-per cent dividend last year. The recommendations have to be ratified by the AGM, to be held in July 2002.