Pune: IT Services company InfoBeans Technologies reported a 63% growth in net profit for the quarter ended 30th June, 2020 at Rs7.6 crore and revenues of Rs 50.4 crore, also up 63%. “Reveune growth is primarily through acquisition of Philosophie that we made in September 2019. Profit and EBiTDA growth is due to cost efficiency measures we undertook during COVID and also due to zero travel and reduced facilities cost,” said Avinash Sethi, co-founder, InfoBeans.

PAT margins were up 3% sequentially at 15%.

The EBITDA was up by 101% percent y-o-y to Rs 14.1 crores as against Rs 7 crores in the quarter ending June of 2019. Sethi said that going ahead, the company would focus on strengthening its strategic competencies and expertise around newer technologies and will continue to focus on delivering more value to its existing clients.

Set up in 2000, InfoBeans currently has over 800 employees and works in the areas of product engineering and digital transformation. It has a presence in India, USA and Europe.