Intelenet Global Services ceases to be subsidiary of HDFC
Intelenet Global Services ceases to be subsidiary of HDFC Housing Development Finance Corporation (HDFC) announced that it concluded the sale of shares held by it, in Intelenet Global Services. Consequently, Intelenet >now ceases to be an associate company of the corporation. The company disclosed good increase in net profit for the quarter ended June 2007. During the quarter, the profit rose 25.60% to Rs 3,728.10 million from Rs 2,968.20 million, in the corresponding quarter last year. Net sales for the quarter rose 46.66% to Rs 18,269.50 million, compared with the corresponding quarter, a year ago. Shares of the company closed up Rs 173.15, or 7.94%, at Rs 2354.15. The total volume of shares traded were 210,302 at the BSE .(Wednesday).
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