For Q3FY09, 3i Infotech Ltd. (Code: 532628) (Rs.26.75) reported encouraging results as its total revenue grew by 90% to Rs.616 cr. and PAT increased by 40% to Rs.70 cr. on a consolidated basis. Accordingly for the first nine months ending 31 December 2008, it has posted a topline of Rs.1694 cr. with a bottomline of Rs.200 cr., which means it has already clocked an EPS of Rs.14 for the first three quarters. As on date, the company has an order book position of over Rs.1400 cr. to be executed in the next one year. Despite this, the scrip is hitting an all time low. To maintain its organic growth, it is in the midst of opening 255 new service centres in tier-II and tier-III cities to help banks and financial institutions reduce the processing time for their various back office operations. It has also bagged a huge contract from the Central Government for setting up over 12,000 kiosks spread across various states for providing citizen services centres to be used for dispensing G2C and B2C services. It has recently made a strategic tie up with ICICI Lombard, Airtel and Max New York Life to open 12,500 retail stores in rural areas to offer a bouquet of retail services in general insurance, telecom and life insurance products respectively. Earlier, it had formed a 51% joint venture with a Chinese company, which will localise the 3i Infotech’s financial technology software to cater to the requirements of China's diversified financial services sector. With an expected an EPS of Rs.16 for FY09, this scrip is trading grossly cheap at current market cap of Rs.400 cr. Keep accumulating at declines.
Source: Internet (Moneytimes)
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