IndiaCo Ventures Limited a private equity & financial service company listed on BSE today announced their impressive financial results for the first quarter ended 30 June 2008.

Financial performance update:

Q1 FY2009 results compared with Q1 FY2008 results:
Revenues at Rs 139 lacs Compared to Rs 81.40 lacs a growth of 71%
Operating profits enhanced by 71% to Rs 77.28 lacs From Rs 45.30 lacs
PAT increases by 44% to Rs 46.52 lacs from Rs 32.20 lacs
EPS improves to Rs 2.74 from Rs 2.15
Commenting on the performance in Q1 FY2009 Mr. Dhananjay Bendre, Executive Director & COO of IndiaCo Ventures Limited said “Even though the global markets are showing signs of weakness, we have achieved consistent growth in the revenues from our Advisory & Consultancy services.” On IndiaCo’s investments he added “Last quarter we have acquired 33.56 % equity stake in InfoDynamic Tele systems P. Ltd, and we have decided to make additional equity investment in InfoDynamic through our subsidiary IndiaCo Telecom Pvt. Ltd., which is our Telecom Aggregation Vehicle focusing on making investments in companies operating in Telecom Value Added Services (VAS) sector” He further added that “IndiaCo is happy with the progress shown by InfoDynamic in last 2 quarters, and business pipe line generated by the company”

Mr. Satyajeet Limaye, MD and CEO of InfoDynamic Telesytems Pvt Ltd., said “We are happy to have partner like IndiaCo Ventures on whom we can not only depend on our growth capital, but for guidance on several areas like Corporate Governance, Industry Contacts, Operational expertise etc.” he further added that”InfoDynamic already has order book over Rs.36 Crs, and we are aiming to be Rs100Cr company in next 2 years with support from IndiaCo”

Overview of the results for quarter

IndiaCo Ventures posted an impressive increase of 64% in its income at Rs 139.07 lacs as against Rs 85 lacs in the corresponding quarter last year.

The company’s Profit after Tax (PAT) for Q1 is up at 46.52 lacs as against Rs. 32.20 lacs in the corresponding quarter last year registering a growth of 44%.

PBT for the quarter is at Rs 71.04 lacs as against Rs. 48.80 lacs in the corresponding quarter last year. The basic EPS stood at Rs 2.74 as against Rs 2.15 in the corresponding quarter last year.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• ESS DEE Aluminium revenues up by 44.56% to Rs 10705.45 lacs
• Navneet Publications net profit up by 27% to Rs 5421 lacs
• AA&BL FY08 PAT up 140% to Rs 561.53 Lacs
• IEC Software PAT to Rs 70.40 lacs
• Ansal Hsg & Const’s net profit up by 30% at Rs. 5536.08lacs