3i Infotech Q2 net profit grows 85.29%

3i Infotech 3i Infotech, a global Information Technology company, has registered 85.29 growth in its net profit to Rs 90.46 crore for the quarter ended March 31. The company had a net profit of Rs 48.82 crore in the same quarter ended March 2008.

Further, the company's net sales also rose to Rs 606.76 crore in the quarter, up by 73.25% from Rs 349.86 crore in the previous year-ago quarter. Apart from the announcement of results, 3i Infotech Ltd has recommended an equity dividend of Rs 1.50 per share having face value of Rs 10/- each.

In a separate announcement, the board of directors of the company has finally sanctioned the proposal for merger of 4 wholly owned subsidiaries of the Company. Viz. KNM Services Pvt. Ltd Stex Software Pvt. Ltd, E-Enable Technologies Pvt. Ltd and J & B Software India Pvt. Ltd with the Company.

3i Infotech promoted by the NYSE-listed ICICI Bank, India's largest private sector bank provides technology solutions to over 600 customers in more than 50 countries across 5 continents, spanning a range of verticals.

The scrip of the company closed on Friday at Rs 42.50 on BSE, up 1.43% compared to previous close of Rs 41.85.