Mumbai July 20: The Bangalore-based Ashok Leyland Information Technology (ALIT) has bagged major orders from a US Bank and an European Bank in addition to the $100 million order recently received from a US Fortune 500 company.pAccording to ALIT's president and CEO Ajit Chakravarti, "The company has received orders from a Fortune 100 US bank and a Fortune 500 European bank. The company is also currently executing an application development programme for one of the largest credit card companies in South America."The company has recorded a net profit of Rs 11.17 crore (-Rs 88 lakh) for the quarter ended June 30, 2000. The board of Hinduja Finance had earlier approved the merger of ALIT with Hinduja Finance. The merger is in line with a major technology, media nd telecom (TMT) strategy which Hinduja Finance intends to follow. The merger has been approved by the Mumbai High Court and the approval of the Chennai High Court is expected on July 21.
Says Chakravaarti, "The company had started making profits from January after receiving these orders. Some of the major international clients of the company include Time Warner, Citi Group, Union Bank of California, Kredit Bank, Fiat Group in addition to local clients like the Kirloskar group."
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.