3i Infotech stock rallies 4% post positive Q2FY23 numbers

1 Nov 2022 , 09:17 AM

3i Infotech Limited, a leading digital transformation and technology solutions provider company has announced its consolidated financial results for the Second quarter and Half year of FY23 ended September 30, 2022.

Key Highlights of the Consolidated Financial Performance

Quarter ended September 30, 2022

• Operating Revenue was Rs177.1 crore
• Net profit was Rs17.1 crore

Half year ended September 30, 2022

• Total Revenue was Rs358.4 crore, a growth of 3.5% yoy
• Net profit was Rs15.6 crore
• Net cash stood at Rs48 crore

Commenting on the Q2FY23 results, Thompson P. Gnanam, Managing Director and Global CEO, 3i Infotech Limited, said: “3i Infotech is on steady upward growth trajectory, and our latest quarter earnings stand testimony to that, showing a marginal revenue growth from a year-on-year basis.

With digital transformation at its core, and a laser-sharp focus on a cloud-first, digital-first approach, I’m confident that the company is well poised to becoming a US$ 1 billion company by FY2030. We have all our growth levers in place to achieve it, whether it’s our Enterprise Services (RUN), Digital Transformation (GROW) and NxtGen Business Services (BUILD) offerings.”

At around 9:17 AM, 3i Infotech Ltd is currently trading at Rs45.75 per share up by Rs1.8 or 4.1% from its previous closing of Rs43.95 per share on the BSE.

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