i-flex records Rs 69 crore net

BANGALORE: i-flex Solutions Limited has recorded a net profit after taxes of
Rs 69.30 crore for 1999-2000, as compared to Rs 50.40 crore in the preceding
financial year. The company declared a total income of Rs 206.30 crore for
1999-2000.

Exports accounted for 98 per cent of its total revenues at Rs 192.70 crore.
This was primarily achieved through expansion of its export activities during
the year. Contributions from the US and Europe accounted for 52 per cent of
total revenues.

The earnings per share and the book value of the company stood at Rs 83.27
and Rs 254.92 respectively. i-flex has announced bonus shares in the ratio of
1:1 to its shareholders for the second consecutive year. During the year, i-flex
Solutions opened a wholly owned subsidiary in Amsterdam, i-flex Solutions BV.
The company also entered the US market with its business intelligence product,
FLEXCUBE Information Center, and entered the Japanese market with FLEXCUBE, its
integrated universal banking solution.