Blue Star Infotech FY07 revenue up 30%, net profit up 118%

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Blue Star Infotech FY07 revenue up 30%, net profit up 118%

Blue Star Infotech FY07 revenue up 30%, Net profit up 118%

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RELATED NEWS Blue Star total income grows 36% to Rs 1607cr Blue Star FY07 net profit at Rs 71.18cr Blue Star Infotech declares interim dividend of 20% ALSO READ See latest News about Blue Star Info See previous management interviews See what other Experts & Brokerages are saying about Blue Star Info Blue Star Info BSE | NSE 25/05/12 Are Mutual Funds betting on Blue Star Info?

Blue Star Infotech Limited , the global software services provider, has recorded consolidated Sales revenue of Rs. 341.56 million for the quarter ended March 31, 2007 compared to Rs. 265.59 million in Q4FY05-06, representing growth of 29%. Total Income grew 29% to Rs. 347.65 million from Rs. 270.42 million in Q4FY06. Consolidated Net Profit for the quarter grew 56% to Rs. 34.12 million, compared to a corresponding figure of Rs. 21.93 million in the previous year, while Earnings per share increased to Rs 3.41 from Rs.2.19 in the same period last year.

For the year ended March 31, 2007, consolidated revenue stood at Rs. 1183.90 million, representing a 30% increase over Rs. 910.42 million registered in FY05-06. Total Income for the year grew 30% to Rs. 1208.32 million from Rs. 930.24 million in FY05-06. Consolidated Net Profit for the year was Rs. 90.64 million, up 118% from Rs. 41.64 million in the same period last year, while Earnings per share increased from Rs 4.16 to Rs.9.06 for the year.

The Directors have recommended a final dividend of Rs. 2.00 per share, over and above the interim dividend of Rs 2.00 paid in March 2007. Thus the total dividend recommended for the financial year equals Rs 4.00 per share representing 40% compared to 20% declared last year.

The Company continues to focus on two key segments for growth in its chosen international markets: the Technology Sector and the Travel Sector. The Company has two decades of experience in the Technology Sector. With Product Development Outsourcing expected to grow exponentially (as per NASSCOM and McKinsey reports), the Company is well positioned to capitalize on this trend. In addition, the Company has been building its Travel & Hospitality Practice over the last three years. The Company intends to leverage the opportunities available in this relatively untapped segment of IT Services and will continue to invest in the specialized sales and delivery organizations related to this field.

In addition to these initiatives, the Company will continue its thrust on the IT services market in India. It will continue to build capabilities in the Manufacturing, Pharma and Retail segments, all of which are significant buyers of IT services in the country.

Commenting on the performance, Mr. Suneel Advani, Chairman and Managing Director , said, "Our strategy of targeting niche segments has enabled us to create strong differentiators in the markets we serve. Each of our Practices has shown significant growth in revenues and profitability. A concerted thrust towards customer satisfaction resulted in significant repeat business from our key accounts during the year. With our vertical approach and a healthy carry-forward order position, I remain confident about the business outlook."

Sourced From: 20 : 20 Media Pvt Ltd