Net profit in the fiscal increased by 2.3 per cent to Rs 855.7 million. Q4 08 revenue earning was at Rs 1.8 billion with six per cent growth.
The company expects a growth of 30 per cent in dollar terms for FY 09, with a calculation of the dollar rate at Rs 39.
“As we grow we are also pragmatic in an event that the verticals that we serve get affected and hence future lookouts are lower than our previous years,” said B V R Mohan Reddy, chairman and managing director, Infotech Enterprises.
“We have not been affected by the US slow down as sectors that we cater to such as manufacturing, utilities telecommunications are growing robustly,” said Reddy.
The wage hike would be around 10 per cent. Infotech has appointed Hewitt Associates to help create salary benchmarks.
During the year the company restricted itself to two core competency areas engineering and GIS services.
About eight per cent of the growth is coming from Australia, which will continue to be important for the company said Reddy.
The company added 43 new clients in the year and the headcount crossed 7000.
Infotech acquired new facilities in Noida, increased its seating capacity in the Kakinada unit has newly started work for the Visakhapatnam facility.
The company would increase its headcount by around 2000 in FY 09.
Infotech declared dividend of four per cent per share, which would constitute 9 per cent of the company’s profit after tax.
Shares in the company closed at Rs 282.50, down 3.9 per cent.