Tulip IT Services Q1 net profit up by 106 pc
Tulip IT Services posted 106 per cent increase in its net profit at Rs 28.47 crore for the first quarter ended June.
By PTI |
NEW DELHI: Tulip IT Services on Tuesday posted 106 per cent increase in its net profit at Rs 28.47 crore for the first quarter ended June.
The company's revenues stood at about Rs 213 crores during the quarter, registering an increase of over 49 per cent, Tulip IT Services said in a statement.
During the quarter, Tulip also got the ILD license from the Department of Telecom, which would enable its to add international connectivity to its exiting portfolio and strengthen its position as an end-to-end solution provider in the telecom space.
Earlier this year, Tulip had raised $150 million to meet capital expenditure requirements for strengthening and expansion of connectivity infrastructure, creation of additional data centres, eGovernance infrastructure projects and for inorganic growth.
In the first quarter, the company successfully consolidated its presence in 800 cities across the country.
"We have been able to successfully consolidate our network to deliver an even higher profitability. This enforces our commitment to delivering the highest returns to our stakeholders and we expect to sustain a similar growth pattern for the year," Tulip IT Services Chairman and Managing Director H S Bedi said.
The company's revenues stood at about Rs 213 crores during the quarter, registering an increase of over 49 per cent, Tulip IT Services said in a statement.
During the quarter, Tulip also got the ILD license from the Department of Telecom, which would enable its to add international connectivity to its exiting portfolio and strengthen its position as an end-to-end solution provider in the telecom space.
Earlier this year, Tulip had raised $150 million to meet capital expenditure requirements for strengthening and expansion of connectivity infrastructure, creation of additional data centres, eGovernance infrastructure projects and for inorganic growth.
In the first quarter, the company successfully consolidated its presence in 800 cities across the country.
"We have been able to successfully consolidate our network to deliver an even higher profitability. This enforces our commitment to delivering the highest returns to our stakeholders and we expect to sustain a similar growth pattern for the year," Tulip IT Services Chairman and Managing Director H S Bedi said.
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