Visesh Infotecnics Ltd., a public listed company and one of the fastest growing IT solutions companies in Asia Pacific, today announced impressive results for its Third Quarter, ending December, 2006. As compared to the corresponding quarter last year, the company has increased net revenues by 72%   (y-o-y) to INR 347.14 million whereas net profits have jumped by 74% (y-o-y) to INR 59.18 million. Its revenues for the quarter were up by 26.68% over the previous quarter while net earnings were up by 46% over last quarter's earnings of INR 40.6 million.

In a significant move, the Board of Visesh Infotecnics Ltd. approved plans for raising Foreign Investment through an issue of GDR/ADR/FCCB to FIIs/Institutional Investors/Mutual Funds/ Overseas Corporate Bodies etc. to fund its immediate expansion plans targeted at the global markets for its products and services. The motion will be put up for approval by shareholders at an EGM of the Company, to be called on February 27, 2007.

Commenting on the results Mr. Sanjiv Bhavnani, CEO & Managing Director of Visesh Infotecnics said, "Visesh moved into a high growth trajectory in 2004, with a major reshuffle in its Management Team and new strategies for sustained growth which have since been visible in our performance. We have repositioned ourselves from being a large domestic ERP player to, a fast growing IT Company with a balanced mix of Products and Services that address the global markets. With our contact centre & customer helpdesk in place, we are now preparing to take our products to the Western markets and are looking at overseas institutional investment to fund our plans going forward. We are confident that this strategy will leverage our strengths in the creation of innovative Intellectual Property and result in sustained growth, thus, maximizing stakeholder value. ”

It may be recalled that Visesh has had several recognitions for its continuous growth in recent times. Following its recognition in the Deloitte Technology Fast 50 India  in November 2006, wherein Visesh was ranked at 25 amongst all Indian ICT companies, Visesh Infotecnics Ltd. was again declared a winner in the Deloitte Technology Fast 500 Asia Pacific 2006 program, with a ranking of 187 based on a three-year percentage revenue growth of 229.25%. The Cybermedia Group Publication, DQ Channels awarded Visesh Infotecnics its Gold Excellence Award earlier this month and declared it India’s Fastest Growing Solution Provider for 2006.

Sourced From: Visesh Infotecnics Ltd