Genex Infosys investing in new venture  

Genex Infosys Limited, a business process outsourcing and information technology enabled services company in the country, is now investing in a new venture of telecom infrastructure business.

Genex Infosys will hold 75% equity in the new venture – Genex Infrastructure Limited.

The paid-up capital of the proposed company that will get engaged in telecom infrastructure investments and businesses is Tk1 crore, according to a disclosure published on both stock exchanges on Thursday.

Following the latest development, the share price of Genex Infosys – listed on stock exchanges in 2019 in the information technology sector – soared by 8.82% on Wednesday to Tk91.30, from Tk83.90 on Tuesday.

In the first nine months of the current fiscal year, its consolidated earnings per share (EPS) rose by around 2% compared to the same period of the previous fiscal year.

In the July-March period, the EPS stood at Tk3.06, which was Tk3.01 in the previous year.

In the January-March quarter, the consolidated EPS stood at Tk1.16, which was Tk1.11 in FY20.

According to its annual financial statement, in FY20, the revenue increased by 9.78% to Tk103.66 crore, from Tk94.33 crore in the previous year.

The net profit rose by 63.87% compared to the previous year to Tk32.1 crore from Tk19.6 crore.

Now the company is also engaged in call centre service, website development, marketing of software products and providing maintenance and support services to both domestic and international clients.

The paid-up capital of Genex Infosys is Tk103.22 crore.