3i Infotech Limited, a global provider of IT solutions and one of India’s mid-tier software product companies, today announced its financial results for the quarter ended June 30, 2017.
FINANCIAL HIGHLIGHTS
- Consolidated revenue from operations for Q1 FY2018 stood at INR 239.31 crores compared to INR 255.13 crores in Q1 FY2017. The revenue for Q1 FY2017 includes revenue from services rendered to ICICI Bank aggregating to INR 41.91 crores, which was discontinued in end July 2016.
- Operating profit for Q1 FY2018 is INR 28.63 crores vis-a-vis INR 41.16 crores in Q1 FY2017 (which included operating profit pertaining to discontinued businesses mentioned above).
- The net profit of the Company for Q1 FY2018 is INR 16.89 crores. This is before the notional charge mentioned in the following point. The corresponding figure for Q1 FY2017 was INR 27.90 crores (which includes profit pertaining to aforementioned discontinued businesses)
- As required under IND-AS 109, the Company is required to account for a notional charge on financial instruments based on fair market valuation. This applies to preference shares, FCCBs and interest free debts. This amount is INR 8.88 crores in Q1 FY2018 and INR 8.77 crores in Q1 FY2017
- Profit after tax, after the notional charge mentioned above, stood at INR 8.01 crores for Q1 FY 2018 vis-à-vis INR 19.13 crores in Q1 FY2017.
