Info-Drive Software Limited has been awarded a letter of intent (LOI) for a major contract under the aegis of Additional Registrar of Co-operative Societies, Government of Tamil Nadu for the fully integrated enterprise-wide Web Based Solutions for management and automation of credit society operations of 110 societies in the Chennai region. Info-Drive would handle through a set up of Data Centre and a Disaster Recovery Centre apart from installation, implementation, maintenance and support for a period of 5 years on a Build, Operate and Transfer (BOT) basis. Info-Drive has been awarded this contract after a very rigorous E-Tender process by the Government of Tamil Nadu and sees the contract award as confirmation of Info-Drive's unassailable position within the domain of credit society automation software. This is also seen as path breaking as this may be the first time a web based solution has been preferred as against traditional software development project awards.

Info-Drive Software Limited announced that Mr. N. Viswanathan, Practicing Chartered Accountant is appointed as an Additional Director (Non-Executive Independent Director) of the company, effect from March 12, 2013, Mr. Jaffer Sadiq Ameer is appointed as an Additional Director (Non-Executive Independent Director) of the company, effect from March 12, 2013 and Mr. Singanallur Narayanan, Director of the company has resigned, effect from March 12, 2013. Consequent to his resignation Mr. Mohan Ranganathan also vacates his office as an Alternate Director to Mr. Singanallur Narayanan, effect from March 12, 2013.

Info-Drive Software Limited reported unaudited standalone financial results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported total income of INR 6,003.80 million, profit from ordinary activities before tax of INR 74.97 million, profit after tax of INR 50.66 million or INR 1.00 per basic & diluted share against total income from operations of INR 6,263.966 million, profit from ordinary activities before tax of INR 223.16 million, profit after tax of INR 146.82 million or INR 2.91 per basic & diluted share for the same period last year. Profit from operations before other income, finance costs, exceptional items and tax was INR 814.072 million against INR 653.708 million for the same period last year. For the nine months, the company reported total income of INR 17,496.36 million, profit from ordinary activities before tax of INR 363.69 million, profit after tax of INR 245.69 million or INR 4.87 per basic & diluted share against total income from operations of INR 14,289.25 million, profit from ordinary activities before tax of INR 429.88 million, profit after tax of INR 286.41 million or INR 5.67 per basic & diluted share for the same period last year. Profit from operations before other income, finance costs, exceptional items and tax was INR 2,418.119 million against INR 1,674.580 million for the same period last year.