A recent revenue reportgeneratedby Financial Technologies (India) Limited (FTIL) registersa net profit of Rs 12.36 crorein the April-June 2016quarter.
The fact that FTIL incurred a loss of Rs 45.3 crore in the same quarter a year ago makes this turnaround aremarkable achievement.
This first positive accomplishment for FT Group in seven quarters resulted from a rise in operational income from Rs 35 crore in the first quarter of 2015 to Rs 35.94 crore in the corresponding period of this fiscal.
The sharp jump in ‘other income’ from Rs 3.30 crore last year to Rs 62.74 crore in April-June quarter of 2016 puts FTIL in great light before all those who were skeptical of the group’s mettle.
The current hikein profits validates FTIL’s resolution of fighting an unfair litigation and shining even intough times.