63 Moons Technologies Q2 net profit rises at Rs 28.43 cr

NEW DELHI: Crisis-hit 63 Moons Technologies today reported a sharp increase in net profit to Rs 28.43 crore for the quarter ended September 30, 2016.

Its net profit stood at Rs 1.74 crore in the year-ago period, the Mumbai-based company, formerly known as Financial Technologies India Ltd (FTIL), said in a BSE filing.

Income from operations remained flat at Rs 39 crore during the second quarter of this fiscal.

63 Moons Technologies' other income increased to Rs 93.66 crore during July-September quarter of 2016-17 fiscal from Rs 78.38 crore in the year-ago period.

FTIL is facing crisis since 2013 after payment default of about Rs 5,500 crore came into light at National Spot Exchange Ltd (NSEL), a group company.

On February 12, the government had directed the merger of scam-hit NSEL with FTIL, in a first-ever order to merge the two private companies.