Sistema Shyam, a leading CDMA services provider has entered into an agreement with Kolkata based for IKF Technologies for business process outsourcing services for an undisclosed sum.

"The board has taken on record the agreement entered in to with Shyam Sistema Teleservices for MTS BPO process," IKF Technologies said in a filing to BSE.

Meanwhile IKF Technologies on Monday reported decline of around 86 per cent in its standalone net profit at Rs 13.04 lakh for the quarter ended June 30, 2012. The company posted net profit of Rs 93.03 lakh for the same period a year ago.

Income from operations of the company during the reported also reduced by 51.6 per cent to Rs 5.06 crore from Rs 10.46 crore in the corresponding of financial year 2012.