3i InfoTech ---bonus bonanja
3i InfoTech spurted 5.10% to Rs 299.45, after the software firm recommended a generous 1:1 bonus issue.
The 3i Infotech counter clocked 7.52 lakh shares on BSE.
The stock saw a pre-results' rally: from Rs 260.40 on 17 April to Rs 284.95 by 25 April, as buying continued in anticipation of a strong set of results from the company.
3i Infotech posted revenues of Rs 210.9 crore and net profit of Rs 32 crore for the fourth quarter ended March 2007. Sequentially, profits have declined by 19% despite a 23% growth in revenues. Year-on-year, the revenues and net profit has grown 73.5% and 82.4%, respectively.
For the fiscal, the firm posted a net profit of Rs 104.5 crore on revenues of Rs 670.8 crore, a growth of 81.2% and 58.2%, respectively, over the previous fiscal.
3i Infotech is a Certified Partner in the Oracle® PartnerNetwork.
It offers a comprehensive range of software and IT solutions including packaged applications for the banking, financial services and insurance (BFSI), manufacturing, contracting, and retail and distribution industries. In addition, 3i Infotech offers a broad range of software services such as custom software development, IT consulting, infrastructure services (IS) and IT security consulting, enterprise application integration (EAI), and specialised services such as product re-engineering, compliance consultancy, application rehabilitation and e-governance among others.