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Infotech Enterprises gains on reporting 44% rise in Q2 consolidated net profit

17 Oct 2013

Infotech Enterprises is currently trading at Rs 230.50, up by 5.15 points or 2.29% from its previous closing of Rs 225.35 on the BSE.

The scrip opened at Rs 225.10 and has touched a high and low of Rs 245.80 and Rs 224.00 respectively. So far 48146 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 5 has touched a 52 week high of Rs 245.80 on 17-Oct-2013 and a 52 week low of Rs 157.00 on 16-May-2013.

Last one week high and low of the scrip stood at Rs 228.60 and Rs 208.05 respectively. The current market cap of the company is Rs 2563.13 crore.

The promoters holding in the company stood at 22.35% while Institutions and Non-Institutions held 36.64% and 41.01% respectively.

Infotech Enterprises has reported results for the second quarter ended September 30, 2013.

On standalone basis, the company has reported 86.70% rise in its net profit at Rs 65.85 crore for the quarter as compared to Rs 35.27 crore for the same quarter in the previous year. Total income of the company has increased by 21.15% at Rs 315.07 crore for quarter under review as compared to Rs 260.06 crore for the quarter ended September 30, 2012.

On consolidated basis, the company’s net profit for the quarter under review registered 44.05% growth at Rs 72.47 crore against Rs 50.31 crore in the September quarter of previous fiscal. Total income has risen by 15.13% at Rs 549.30 crore for the quarter from Rs 477.12 crore in the similar quarter of previous year.

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