3i Infotech - Bonus Awaits You

3i Infotech - Net Jumps 88%

3i Infotech a global provider of IT solutions and one of India’s largest software product companies, announced its operating results for the quarter ended June 30, 2007.

FINANCIAL HIGHLIGHTS

Consolidated results for the quarter ended June 30, 2007:

• Revenue for the quarter was Rs 264.2 crores, a growth of 98.3% over the corresponding quarter of the previous year.


• Profit before depreciation, Interest and Tax (including other income) for the quarter was Rs 66.3 crores, a growth of 94.5% over the corresponding quarter of the previous year.


• Profit after tax for the quarter was Rs 40.3 crores, a growth of 88.9% over the corresponding quarter of the previous year.


• Earnings per share (EPS) increased to Rs 6.41 from Rs 3.68 in the same quarter of the previous year.

Commenting on the results, Mr. V. Srinivasan, Managing Director & CEO, 3i Infotech Limited said, “Our strategy of aggressive organic growth complemented by strategic acquisitions is paying rich dividends by creating a fundamentally strong business model”.

Business Highlights

During the Quarter, 3i Infotech:

• Acquired 50.5% stake in aok in-house BPO Services Limited and aok in-house Factoring Services Private Limited. These companies were acquired for their delivery capabilities in the area of credit cards and auto loans processing for the banking sector and claims processing in the insurance sector.


• Launched a new global development centre in Chennai which will focus on the enhancement and development of the company’s flagship insurance solution PREMIA, the Kastle line of banking solutions and Orion ERP solution, as well as support the company’s growth in these areas.


• Was adjudged the winner of Top Contributor in Financial Services & Insurance (FSI) Sector Award from Oracle for Independent Software Vendor (ISV) – 2006.


• Received the ‘Best Software Product` award from the Hyderabad Software Exporters Association (HYSEA) for its Anti-Money Laundering (AML) and Fraud Detection software – AMLOCK™

The Board of Directors have accepted the resignation of Ms. Madhabi Puri Buch with effect from June 1, 2007. The vacancy casued by her resignation has been filled by the Board by appointing Ms. Vishakha Mulye as a Director pursuant to Section 262 of the Companies Act, 1956.