Infotech Enterprises Net Up 67 PC; 1: 1 Bonus Recommended

Hyderabad: | Updated: Apr 25 2002, 05:30am hrs
The Hyderabad-based Infotech Enterprises Limited has reported a 67 per cent growth in both net profit and total income for the year-ended March 31, 2002.

Following this performance, the board of directors, which met here on Wednesday, has recommended a bonus issue in the ratio of 1:1 to the shareholders and an enhanced dividend of 24 per cent.

The paid-up capital of the company as on March 31, 2002 was Rs 7.20 crore.

The total income for the year ended March 31, 2002 was up by 67 per cent at Rs 100.47 crore, against Rs 60.20 crore during the corresponding period last year. The net profit too shot up by 67 per cent at Rs 28.76 crore, compared to Rs 17.23 crore in the corresponding period last year.

As per the consolidated results, including subsidiaries in the United Kingdom, Germany and the US, the total income was higher by 49 per cent at Rs 136.20 crore, compared to Rs 91.16 crore during the corresponding period last year.

The net profit too was higher by 43 per cent at Rs 23.17 crore, against Rs 16.17 crore for the corresponding period last year. The diluted EPS for the year was at Rs 31.36 for fiscal 2002, against Rs 27.21 for the previous year.