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NT Bureau
Chennai, Mar 24:

        Quintegra Solutions Ltd, a provider of software solutions, is looking at acquiring two companies, one in the US and another in the Asia Pacific by the end of this financial year.

        With the finalisation of new acquisitions, the staff strength at the company would go up to 750 shortly from 350 last year. Meanwhile, the revenue for the third quarter (Q3) ended 31 December stood at Rs 17.33 crore as against Rs 8.50 crore for the same period last year, a growth of 104 per cent. The net profit was Rs 1.8 crore as against Rs 95 lakh of the same period of 2005-06, thus posting a growth of 91 per cent.

        Compared to previous quarter ended 30 September 2006, the revenue grew by 15 per cent in the third quarter (ended 31 December), while net profit jumped by 55 per cent to Rs 1.8 crore from Rs 1.17 crore. 'Our reorganisation and new business model helped us in achieving the results. We will achieve 50 per cent annual growth in the next three years,' said Shankarraman Vaidyanathan, chairman and managing director, Quintegra Solutions.

        For the nine month period, the company's revenue was Rs 45.57 crore, a growth of 69 per cent from Rs 27 crore for the same period of the last fiscal and the net profit was Rs 4.38 crore, a growth of 115 per cent from Rs 2 crore netted for the same period in the last year. On a fully diluted and non-annualised basis, the company's EPS (earnings per share) stands at Rs 0.68 and Rs 1.64 for the third quarter and nine-months ended 31 December respectively.

        Quintegra has added six new clients in this quarter. The company has set up one more development centre in Malaysia which can house more than 200 people. An investment of over $one million was made at its Malaysian centre.