Northgate Technologies Ltd, a Hyderabad-based technology, e-commerce and online advertisement solutions provider, witnessed a 14 per cent increase in its net profit for the fourth quarter ended March 31, 2008, at Rs 20.18 crore, as against Rs 17.7 crore in the corresponding quarter last year. Its revenues stood at Rs 162.66 crore, as compared with Rs 102 crore in the same period a year ago, registering a growth of 59.47 per cent.

For the full year, the company recorded a net profit of Rs 72.84 crore (Rs 57.41 crore), up 26.87 per cent, while revenues grew 87 per cent to touch Rs 551.25 crore, as compared with Rs 294.57 crore last year.

"Our Social Media India Ltd, launched six months ago targeting the Indian advertising market, has started yielding results and added Rs 10 crore thus far. Besides, our IPTV service Globe7 and ziddu.com, a file-sharing online community of Globe7, have been growing 30 per cent quarter-on-quarter, which reflected on both our topline and bottomline," Anil Singh, chief financial officer of Northgate, told Business Standard.


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