The company is eyeing acquisitions in avionics, nuclear power engineering and cockpit electronics, it said in a statement to stock exchanges.

Infotech would use its cash reserves of about 4 billion rupees, to which about 400 million rupees gets added every quarter, for the acquisitions, it added.

Also, Infotech is eyeing a 'flattish' growth in the quarter ending March compared with the December quarter but the annual growth would be better than last year's, it added.

For the December quarter, Infotech reported consolidated net profit of 379.1 million rupees on revenue of 2.39 billion rupees.

Shares in the company were up 0.07 percent at 360 rupees on low volumes in a weak Mumbai market.