During the December quarter, Infinite Computer Solutions reported 46% fall in its net profit due to lower sales and higher forex loss
Infinite Computer Solutions (India) Ltd, an information technology (IT) service provider, reported a 46% fall in its third quarter net profit due mainly on subdued domestic sales and forex loss.
For the quarter to end-December, the IT service provider said, its net profit fell 46% to Rs15.39 crore from Rs28.74 crore, while its total revenues, including sales, decreased 18% to Rs89.11 crore from Rs108.19 crore, a year ago period.
During the third quarter, Infinite Computer Solutions said its forex losses increased 44% to Rs9.98 crore from Rs6.93 crore, a same period a year ago.
As on 31 December 2013, Infinite Computer Solutions reserves and surplus stood at Rs417.20 crore, an 8% increase from Rs385.09 crore than a year ago period.
The company has declared an interim dividend of 20% per share.
At 3.03pm Wednesday, Infinite Computer Solutions was trading 3.7% down at Rs119.9 on the BSE, while the 30-share benchmark was marginally up at 20,456.
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