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• Revenue for the quarter was Rs. 264.2 crores, a growth of 98.3% over the corresponding quarter of the previous year.
• Profit before depreciation, Interest and Tax (including other income) for the quarter was Rs. 66.3 crores, a growth of 94.5% over the corresponding quarter of the previous year.
• Profit after tax for the quarter was Rs. 40.3 crores, a growth of 88.9% over the corresponding quarter of the previous year.
• Earnings per share (EPS) increased to Rs. 6.41 from Rs. 3.68 in the same quarter of the previous year.

 
Commenting on the results, Mr. V. Srinivasan, Managing Director & CEO, 3i Infotech Limited, said, “Our strategy of aggressive organic growth complemented by strategic acquisitions is paying rich dividends by creating a fundamentally strong business model”. 

 
BUSINESS HIGHLIGHTS   
During the Quarter, 3i Infotech:   

• Acquired 50.5% stake in aok In-house BPO Services Limited and aok In-house Factoring Services Private Limited. These companies were acquired for their delivery capabilities in the area of credit cards and auto loans processing for the banking sector and claims processing in the insurance sector
• Launched a new global development center in Chennai which will focus on the enhancement and development of the company’s flagship insurance solution PREMIA, the KASTLE line of banking solutions and ORION ERP solution, as well as support the company’s growth in these areas
• Was adjudged the winner of Top Contributor in Financial Services & Insurance (FSI) Sector Award from Oracle for Independent Software Vendor (ISV) – 2006
• Received the ‘Best Software Product` award from the Hyderabad Software Exporters Association (HYSEA) for its Anti-Money Laundering (AML) and Fraud Detection software – AMLOCK™
• The Board of Directors has accepted the resignation of Ms. Madhabi Puri Buch with effect from June 1, 2007. The vacancy caused by her resignation has been filled by the Board by appointing Ms. Vishakha Mulye as a Director pursuant to Section 262 of the Companies Act, 1956.

 
About 3i Infotech Limited   
3i Infotech is one of the top 4 Indian Software Products Companies.* The company provides software products and IT services (Managed IT Services, Application Software Development & Maintenance, Payment Services, Business Intelligence, IT Consulting, BPO, Document Imaging & Digitization and Data Warehousing) for the Insurance, Banking, Capital Markets, Mutual Funds and Government verticals. The company services customers in over 50 countries across 5 continents.
 
3i Infotech is SEI CMMI Level 5 compliant for its Software services and ISO 9001:2000 certified for its IT Infrastructure and BPO services.
 
 
  * Dataquest July 2006 issue
 
For more information, please contact: 
M.B. Battliwala
Senior General Manager
3i Infotech Limited
Akruti Centre Point, 6th Floor,
M.I.D.C Central Road,
Next to Marol Telephone Exchange,
Andheri (East), Mumbai - 400 093
INDIA.
Tel: + 91.22-39145560
Fax: +91.22-39145520
Email: corporate@3i-infotech.com  
 
Disclaimer
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.