Infotech Enterprises gains on reporting 76% rise in Q2 net profit

18 Oct 2012 Evaluate

Infotech Enterprises is currently trading at Rs. 197.60, up by 2.85 points or 1.46% from its previous closing of Rs. 194.75 on the NSE.

The scrip opened at Rs. 199.30 and has touched a high and low of Rs. 202.75 and Rs. 195.00 respectively. So far 56,102 shares were traded on the counter.

The NSE stock of face value Rs. 5 has touched a 52 week high of Rs. 207.70 on 15-Oct-2012 and a 52 week low of Rs. 101.25 on 23-Dec-2011.

The promoters holding in the company stood at 22.39% while Institutions and Non-Institutions held 32.50% and 45.11% respectively.

On standalone basis, the company has posted a rise of 75.56% in its net profit at Rs 35.27 crore for the quarter ended September 30, 2012 as compared to Rs 20.09 crore for the same quarter in the previous year. Total income has increased by 25.91% at Rs 260.06 crore for quarter under review as compared to Rs 206.54 crore for the quarter ended September 30, 2011.

On consolidated basis, the company has posted a rise of 63.66% in its net profit at Rs 50.31 crore for the quarter ended September 30, 2012 as compared to Rs 30.74 crore for the same quarter in the previous year. Total income has increased by 28.05% at Rs 477.12 crore for quarter under review as compared to Rs 372.60 crore for the quarter ended September 30, 2011.

Infotech Enterprise is a leading global engineering service company. The company provides services to a wide range of industries - aerospace, rail, automotive, marine, energy, plant engineering, utilities, telecom (operators), government, retail, consumer electronics, medical electronics, semiconductor telecom (manufacturers) and computing industries.

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