Net4India profit up 93 p.c. YoY at Rs. 5.8 cr

NEW DELHI, INDIA: Network and application services provider Net4 India today reported net profit of Rs 5.8 crore for the quarter ended September 30, 2010. This shows a 93 per cent growth compared to the year-ago quarter as well as the previous quarter, when it netted Rs 3 crore.

The company's total revenues for the second quarter of FY 2010-11 were up by 67 per cent at Rs 77.3 crore, compared to the revenue of Rs 46 crore in the year-ago quarter. In the first quarter the revenue stood at Rs 49 crore.

The earnings per share (EPS) for the period under consideration jumped 53 per cent to Rs 4.6 compared with Rs 3 in previous year period, the company said in a statement.

Announcing the results, Jasjit Sawhney, chairman and managing director, Net4 India Ltd, commented, “Our record numbers are a direct result of a consistent and robust sales pipeline, high quality services and controlled costs. Brand building activities undertaken over the past 2 quarters are clearly adding momentum to customer acquisition.

Meanwhile, Desi Valli, COO and ED, Net4 India, said in India, there is immense potential for Virtual Private Server, an offering by the company.

“Many a technologies were adapted in India faster than its international counterparts as these technologies become the initial step for many customers,” he said.