Blue Star Infotech Q3 revenue up 16%

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Blue Star Infotech Q3 revenue up 16%

Blue Star Infotech Q3 revenue up 16%

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Blue Star Infotech Limited, the global software services provider, has recorded consolidated Sales revenue of Rs. 263.95 million for the quarter ended Dec 31, 2006  compared to Rs. 227.29 million in Q3FY06, representing growth of 16%. Total Income grew 17% to Rs. 270.45 million from Rs. 230.26 million in Q3FY06. Consolidated Net Profit for the quarter stood at Rs. 14.68 million, compared to a corresponding figure of Rs. 13.61 million in the previous year, while Earnings per share increased to Rs 1.47 from Rs.1.36 in the same period last year.

For the nine month period ending Dec 31, 2006, consolidated revenue stood at Rs. 842.34 million, representing a 31% increase over Q3FY06. Consolidated Net Profit in the nine month period was Rs. 56.52 million, up 87% from Rs. 19.71 million in the same period 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 focus 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, "The revenue growth during the quarter ended December 2006 was lower than the 9-month and expected year-end growth rate. This was anticipated as we consciously moved our new business generation focus from onsite to offshore in our export business. However, considering that we recently bagged a major contract of over US$10 million from a Fortune 100 US Company, and the fact that some large deals in our domestic business have been pushed into the fourth quarter, we expect the fourth quarter and the year-end performance to end on a higher note."

Sourced From: Adfactors Public Relations Pvt Ltd