The company has articulated an acquisition strategy that will help in fulfilling gaps in terms of capabilities or geographic locations and given the resources at the company‘s disposal, the only limiting factor is the management bandwidth, says Krishna Bodanapu, President & COO of Infotech.
Krishna Bodanapu, President & COO, Infotech Enterprises told CNBC-TV18 that he still believes that the company will have a better year as compared to last year.
Operating margins for Infotech Enterprises slipped by 120 bps this quarter, says Krishna Bodanapu, Infotech Enterprises, the reason being a shift in the company‘s business from onshore to offshore.
Though Krishna Bodanapu, President and COO of Infotech Enterprises feels that the company may face some short-term challenges in Q4, he is confident of things being positive in FY14.
Infotech Enterprises was included in the CNX IT Index. BVR Mohan Reddy, CMD of Infotech Enterprises in an interview to CNBC-TV18 said it was very gratifying that their company was included in the CNX IT Index.
Infotech Enterprises reported a consolidated sales turnover of Rs 475.12 crore and a net profit of Rs 60.12 crore for the quarter ended Dec '12. The company‘s other income for the quarter stood at Rs 17.04 crore.
Infotech Enterprises‘ net profit fell by 22% to Rs 50.3 crore in the second quarter of current financial year 2012-13 from Rs 64.7 crore in the previous quarter. BVR Mohan Reddy, CMD, Infotech Enterprises, tell us the reasons for the decline.