InfoBeans Q1 Results: Profit up 39.5% to Rs 11 crore

PUNE: IT services provider InfoBeans Technologies reported a profit of Rs 11 crore for the quarter ended June 30, up 39.5% over the corresponding quarter last year. Revenues were up 9.6% at Rs 55.22 crore. Earnings before interest, tax, depreciation and amortisation (Ebitda) increased by 12.9% to Rs 16 crore from Rs 14 crore.

The company also announced the signing of a non-binding term sheet with a Salesforce implementation partner company to acquire 100% equity stake. InfoBeans added six new clients during the quarter.

Set up in 2000, the company has over 1,000 employees and works primarily on digital transformation and product engineering projects.