The Telegraph
Since 1st March, 1999
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i-flex net profit rises 48 per cent

Mumbai, May 16: IT solutions provider i-flex Solutions has reported a 48 per cent rise in consolidated net profit at Rs 170.88 crore for the fiscal ended March 31, 2003, compared with Rs 115.29 crore in the previous fiscal.

The board has recommended a 50 per cent dividend (Rs 2.5 per share), the company said. Consolidated revenues as per Indian GAAP was up 45 per cent at Rs 609.85 crore as against Rs 419.47 crore in the previous fiscal.

On a standalone basis, the company reported a higher net profit at Rs 174.37 crore (Rs 126.76) while revenue rose to Rs 563.83 crore (Rs 415.02 crore).

For the fourth quarter ended March, net profit dipped to Rs 32.48 crore (Rs 35.86 crore). Revenue income grew to Rs 145.03 crore (Rs 121 crore), it said.

As per the US GAAP, consolidated net profit went up by 71 per cent at Rs 177 crore and revenues rose by 46 per cent at Rs 636 crore. Product revenues for the year accounted for 64 per cent of the total revenues, up from 60 per cent previous fiscal.

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