NEW DELHI: Tulip IT Services Ltd, provider of end-to-end data connectivity,
has recorded a 265 per cent increase in net profit to Rs 48.80 crore for the
financial year ended March 31, 2006. The company had recorded a net profit of Rs
13.91 crore in the last financial year. Tulip also recorded 49 per cent growth
in revenue to Rs 508.17 crore.
Tulip IT services' network integration business strengthened its foothold,
contributing to 84 per cent of the total turnover. The network integration
business grew by 16 per cent. The company currently has 10,500 MPLS VPN connects
in India.
Tulip also announced major investments plans to increase the reach of
TulipConnect, MPLS enabled Internet Protocol Virtual Private Network (IP/VPN).
“At present, TulipConnect has expanded its reach to over 540 cities with a
total investment of Rs 180 crore. We plan to expand this network to 800 cities,”
said Tulip MD Lt. Col. HS Bedi.
He added, “With an increase in investments, expansion of TulipConnect and
launch of Level 3 Data Centers, we aim to create a leadership position in the
data connectivity market and to continue to be at the forefront of the growing
data-com market.”
The company also plans to make additional investment to launch four Level 3
data centers in Mumbai, Delhi, Bangalore and Chennai. The company plans to open
numerous additional support centers and also be increasing its staff strength
from 850 to 1,500 employees. The company aims to ramp up its sales and wireless
engineers team.
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