Infotech’s Q1 profit dips 28%

Jul 15, 2010 |

Correspondent

Infotech Enterprises, an engineering design and geospatial information services provider, on Wednesday said that its consolidated net profit for the quarter ended June 30, stood at Rs 32.9 crore, down 28 per cent, over same period last year. The city-based firm’s revenue stood at Rs 252.9 crore during the quarter, up from Rs 232.6 crore from the same year-ago period. The operating margins were below expected levels, it said. “The impact of adverse exchange rate mo-vements and completion of some large projects in UTG, in addition to salary increments, investment in people and infrastructure contributed to the drop in profit,” Infotech said.

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