Tulip IT Services to pay 10% dividend
Provider of end-to-end data connectivity, Tulip IT Services Ltd on Tuesday reported massive increase in its net profit for the year ended March 31, at Rs 48.8 crore and also declared a dividend of 10 per cent.
By PTI |
NEW DELHI: Provider of end-to-end data connectivity, Tulip IT Services Ltd on Tuesday reported massive increase in its net profit for the year ended March 31, at Rs 48.8 crore and also declared a dividend of 10 per cent.
Turnover of the company grew 49 per cent at Rs 508.17 crore in fiscal 2005-06 as compared to Rs 342.20 crore in 2004-05.
The company's net profit from its India operations for financial year 2005-06 stood at Rs 48.8 crore as against Rs 13.91 crore in the year ago period, Tulip Managing Director H S Bedi said adding the company was looking at "substantial growth" in the current fiscal.
It also declared a dividend of Re one (10 per cent) on a share of Rs 10 each.
"Expanding our business focus from network integration, we launched TulipConnect, MPLS enabled Internet Protocol Virtual Private Network (IP/VPN) in March this year, which contributed to 16 per cent of our total sales," Bedi said.
TulipConnect, with a business of Rs 81.49 crore, currently covers 540 cities and has 9513 connects. The company plans to expand this reach to about 800 cities in the near future and would also increase its headcount to 1500 from the current 850 employees.
The company would also launch four tier-three data centres in Mumbai, Delhi, Bangalore and Chennai and would fund its expansion plans through debt and internal accruals.
Turnover of the company grew 49 per cent at Rs 508.17 crore in fiscal 2005-06 as compared to Rs 342.20 crore in 2004-05.
The company's net profit from its India operations for financial year 2005-06 stood at Rs 48.8 crore as against Rs 13.91 crore in the year ago period, Tulip Managing Director H S Bedi said adding the company was looking at "substantial growth" in the current fiscal.
It also declared a dividend of Re one (10 per cent) on a share of Rs 10 each.
"Expanding our business focus from network integration, we launched TulipConnect, MPLS enabled Internet Protocol Virtual Private Network (IP/VPN) in March this year, which contributed to 16 per cent of our total sales," Bedi said.
TulipConnect, with a business of Rs 81.49 crore, currently covers 540 cities and has 9513 connects. The company plans to expand this reach to about 800 cities in the near future and would also increase its headcount to 1500 from the current 850 employees.
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The company would also launch four tier-three data centres in Mumbai, Delhi, Bangalore and Chennai and would fund its expansion plans through debt and internal accruals.
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