IT company Datamatics Global Services on Friday posted a close to three-fold jump in its consolidated net profit at Rs 39.5 crore in the first quarter ended June 30, 2021.
The company had registered a profit of Rs 13.5 crore in the same period a year ago.
The company during the quarter recorded a forex gain of Rs 10.1 crore from buy-back of equity shares held in overseas subsidiaries as an exceptional gain.
It also made a profit of Rs 3.65 crore on divestment of its subsidiary Cignex Datamatics Corporation BVI. The consolidated revenue from operations of Datamatics Global Services increased marginally to Rs 287.74 crore during the reported quarter as compared to Rs 277 crore it recorded in the corresponding period of 2020-21.
The company made an investment of Rs 64.65 crore in two of its wholly owned subsidiaries.
The management informed auditors that the investment is for long term and of strategic nature and the management is confident of turning around these companies in near future.
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