Infinite Q2 FY 11 revenue grows 38% YoY in USD terms; PAT up by 57%

Bangalore, November 3, 2010 /PRNewswire/ — : Infinite Computer Solutions (India) Limited (BSE: 533154, NSE: INFINITE), a global provider of IT services, infrastructure management services (IMS) and intellectual property leveraged solutions, today announced its results for the second quarter of the Fiscal 2010-11.

Consolidated results for the quarter ending September 30, 2010

  • Revenue - INR 219.4 crore; (USD 47.2 Million*) YoY growth of 38.4% in USD terms
  • PAT - INR 25.56 crore; (USD 5.50 Million); YoY growth of 57.0% in USD terms
  • EPS for the quarter - INR 5.81

Q2 FY 11 Highlights (for the quarter ended September 30, 2010)

Revenue of INR 219.4 Cr. (USD 47.2 Million)

  • Y-o-Y Growth in INR terms up 32.9% and in USD terms it stood at 38.4%;
  • Q-o-Q Growth (sequential) is 13.3% in INR terms and 11.2% in USD terms

Operating margin of INR 36.4 Cr. (USD 7.83 Million)

  • Y-o-Y growth in INR terms up 24.3% and in USD terms at 28.3%
  • Q-o-Q growth 14.4% in INR terms and 12.4% in USD terms

Net profit after tax was INR 25.6 Cr. (USD 5.50 Million)

  • Y-o-Y Growth in INR terms was 53.0% and in USD terms it stood at 57.0%;
  • Q-o-Q Growth stood at 5.0% in INR terms and in USD terms the growth was 3.1%

Earnings per Share was INR 5.81

  • Q-o-Q growth up by 4.87%; while Y-o-Y growth was 32.9%

The Board of Directors has approved an Interim Dividend of 20% and a special dividend of 10%.

Business Outlook

Added 3 key clients during the quarter in telecom and utilities division

  • Our top client contributed 33.1% of our revenue. The top 10 clients contributed 92.3%.
  • We have 47 active clients. Out of which, on an LTM basis, we have 13 USD 1Mn+ clients; of these three are clients with USD 20Mn+ revenue; six are clients with USD 5Mn+ revenue

Others

  • The global headcount increased to 4178 employees
  • Net addition of 435 employees / contractors
  • Global Attrition rate stood at 8.08% while India attrition was at 7.84%
  • Telecom vertical contributed 61% of the total revenue. Healthcare contribution up to 18.63% and Manufacturing up to 6.34%; R&D/IP Leveraged revenue up to 21.6% against 18.9% in Q1; RIM revenue up to 8.9% against 8.2% in Q1. Offshore revenue up to 29.1% from 27.8% in Q1