Paradyne Infotech is now Glodyne Technoserve
Paradyne Infotech is now Glodyne Technoserve >The members of Paradyne Infotech, (Q, N,C,F)* at the 10th annual general meeting (AGM) of the company held on Sep. 24, 2007, approved the change in name of the company from `Paradyne Infotech` to `Glodyne Technoserve.` Further members approved the declaration of dividend at 12%, or Rs 1.20 a share on the equity shares of the face value of Rs 10 each, and also to increase the borrowing limits up to Rs 2.50 billion.
Paradyne Infotech disclosed a phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the company`s profit went up 2.12 times to Rs 60.25 million from Rs 28.41 million in the same quarter last year.
Sales for the quarter rose 82.24% to Rs 487.60 million compared with the corresponding quarter, a year ago.
Shares of the company declined Rs 1.75, or 0.83%, to trade at Rs 208.35. The total volume of shares traded was 20,366 at the BSE.(2.50 pm ,Tuesday)
