Hyderabad: Infotech Enterprises Ltd has reported a total earnings of Rs 171.99 crore in its second quarter, ended September 30, 2007.

The company recorded a profit of Rs 23 crore for the same period, as against a profit of Rs 17.26 crore for the corresponding quarter last year.

The company posted a total income of Rs 549.26 crore and a profit of Rs 74.41 crore during the last fiscal ended March 31, 2007.

B.V.R. Mohan Reddy, Chairman and Managing Director stated that the company’s healthy performance is mainly because of substantial momentum across business processes and schemes carried out over the years.

Infotech has also signed up a partnership deal with Continental Data Graphics (CDG), a subsidiary of The Boeing Company in the same period.

In a statement, Reddy said that the margins are not expected to be bore upon considerably owing to exposure to a variety of currencies.

The company added 768 affiliates and 10 new clients. Presently, the company’s overall headcount stood at 6,300.

In Q2, Infotech assigned 44.17 lakh shares of Rs 5 each at a premium of Rs 355 and 27.24 lakh obligatorily convertible preference shares to GA Global Investment Ltd, Cyprus.