Aftek Infosys has posted a huge 77% sequential (QoQ) growth in revenues for 3QFY01. The net profits have jumped by a huge 115%. This huge rise in income is due to the company's earnings from its software products. The company had started shipping a new product PowerSafe in 2QFY01.The company has infact earned 43% of its revenues from software products in the 3QFY01 compared to none in 2QFY01. The company has managed to improve its operating margins by a significant 12.6% sequentially.
In a very interesting move the company has formed a trust for looking into the welfare of its employees. According to the company one of the activities of the trust is to purchase shares in the company for which the trust has been given a interest free financial assistance of Rs 40 m.
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At the current market price of Rs 147, the company is trading at a P/E multiple of 3 times its 3QFY01 annualised earnings.
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