Bangalore: Infinite Computer Solutions (India) Ltd., a global Information Technology service provider with expertise in IT Services, Product Engineering Services, Mobility & Messaging Platforms and Solutions, today announced its results for the first quarter, FY 2014-15, as approved by its Board of Directors.

Commenting on the results, Upinder Zutshi, Managing Director and CEO, Infinite said, “Infinite continues on its journey to build capability in next-gen technology areas and continues its focus toward becoming a „platformization‟ company.

We have had a good margin and profitability growth in Q1 and remain in line for a strong profitability growth for FY 2014-15.”

Q1, FY 2014-15 Highlights:

Consolidated INR results for the Quarter Ended June 30th, 2014:

·         Revenue – INR 389 Crore; YoY decline of 3.4% | QoQ decline of 3.7%

·         EBITDA – INR 47.3 Crore; YoY growth of 13.1% | QoQ growth of 30.7%

·         PAT – INR 26.8 Crore; YoY growth of 9.2% | QoQ growth of 83.4%

·         EPS for the quarter – INR 6.7

Consolidated USD results for the Quarter Ended June 30th, 2014:

·         Revenue – USD 65 Million*; YoY decline of 9.6% | QoQ decline of 0.5%

·         EBITDA – USD 7.9 Million*; YoY growth of 6% | QoQ growth of 35%

·         PAT – USD 4.5 Million*; YoY growth of 2% | QoQ growth of 90%

*Average Forex Rate: INR 59.77 = 1 USD

Highlights – Major Deals & Contracts:

7 Client Additions for Q1 FY15 including:

·         US Based Telecom Service Provider;

·         Global Retail Giant;

·         APAC Based bank;

·         Technology Consulting Giant;

·         Indian arm of European retail bank;

·         APAC based government service organization

Employees:

·         Global Employee Headcount at the end of the First Quarter stood at 5079 Strong; a net increase of 197 employees over the previous quarter.

·         Attrition steady at 17%

Buy-Back Update:

Commencing on 20th June, 2013, the company has closed the buy-back on 4th June, 2014. In doing this 2,411,036 shares have been bought back utilizing funds to the tune of Rs. 22.85 Crores (of the Maximum limit of Rs. 30 crores). The average re-purchase price has been Rs. 107.96 (Maximum Re-purchase Price Limit – Rs. 120). The promoter holding now stands at 71.53% as against 67.47% prior to the buy-back commencement.