Bangalore based IT service provider Acropetal Technology is the latest company to be listed on the bourses today. The IT firm had fixed a price band of Rs 88-90 a share for its Rs 170 crore initial public issue. Acropetal offers IT/ITES solutions and a broad spectrum of engineering design services to reduce product design cycle time and costs.
D Ravi Kumar, Chairman & Managing Director, Acropetal Technologies Ltd, in an interview on CNBC-TV18 said in FY11, the company clocked Rs 28 crore profit on a consolidated basis. He also added that they planned on maintaining their CAGR of 37% and that new acquisitions would add to the company's topline. Below is a verbatim transcript of his interview with CNBC-TV18's Udayan Mukherjee and Mitali Mukherjee. For complete details watch the accompanying video. Q: Can you start by telling us what you expect to achieve by the end of FY12 in terms of revenues and profits? A: For Acropetal it is a very proud moment today. We have opened on the BSE stock exchange and we have listed on a very positive note. The shares are listing at a very high price. Coming to the revenues, they will be inline with our past performance of CAGR of 37%. For 2009-2010 we already made a profit of Rs 28 crore, with Rs 148 crore turnover. Acropetal believes that CAGR will be maintained and we will take it forward with new acquisitions which we are planning which will add to the topline as well. Q: Can you just repeat that profit figureDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
