Visesh Infotecnics posts 696% increase in profit after tax

Visesh Infotecnics, a public listed company and one of the leading providers of reliable and cost-effective IT products and solutions to organizations globally today announced impressive results for its third quarter ending December, 2005. As compared to the corresponding quarter last year, the company has increased net revenues by 147.3% (y-o-y) to Rs 201.44 million whereas net profits have jumped by a huge 696.71% (y-o-y) to INR 34.05 million. Its revenues for the quarter were up by 9.25% over the previous quarter while net earnings were up by 27.95% over last quarter's earnings of Rs 26.61 million.



Commenting on the results Sanjiv Bhavnani, CEO and MD of Visesh Infotecnics said, "This quarter's results re-emphasize the strengths of our business model and the acceptance of our products in the market. We shall commence our Knowledge Process Outsourcing services from our Gurgaon Center in the current quarter, which will provide a further boost to our revenues and profitability, going forward. With the addition of Rahul Patwardhan, MD, IndiaCo Ventures on our Board, we hope to continue building innovative products and attracting business and talent to take Visesh to the next level."



Rahul Patwardhan is the Founder and Managing Director of IndiaCo Ventures, a global technology incubator that has been recognized by the InfoDev Program of the World Bank. It has been able to establish successful business models for corporate venturing, technology transfer and incubation. He also co-founded the India's first Nanotechnology initiative Nanotechnology Research and Innovation Foundation (IndiaNano).