Virinchi Tech Q1 profits rise 141 p.c.

HYDERABAD: Virinchi Technologies, an e-Business Collaboration Solutions

provider focusing on B2B space, declared that its net profits have risen 141

per cent in first quarter of the fiscal year 2005-06.

The first quarter net profit for the current fiscal is Rs. 19.5 mn compared

to Rs 8.04 mn during the same period last year.

The total income of the company has risen 150 per cent from Rs. 24.16 mn a

year ago to Rs. 60.4.

Viswanath Kompella, CEO of Virinchi said, "the company is pursuing an

aggressive growth strategy and has already added five fortune clients from

the US. In the last quarter, Virinchi also appointed a President and a Vice

President for enhancing its marketing presence

in the North American Markets."

Virinchi is realizing good potential in the Middle East markets through two

Fortune clients in the region, Kompella added.