Melstar Information Technologies reported more than 100% jump in revenues in 2QFY01. However profits for the second quarter increased marginally to Rs 22 m due to additionally investment in infrastructure and manpower costs.
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During the year the company has acquired entire shareholding on Linkhand Ltd. U.K , the non Swiss business of Itc Consulting GMBH at U.K and the balance shareholding of Global Systems Development Inc, US.
At the current market price of Rs 70, Melstar is trading at a P/E of 10 times its 2QFY01 annualised earnings.
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