India�s Infosys posts 5pc rise in profits

AFP, BANGALORE, India: Indian software giant Infosys Technologies reported a five per cent rise in quarterly net profits yesterday, aided by a weak rupee and strong demand from the United States.
The country’s second largest IT services exporter said profits for April to June notched 30.3 billion rupees ($476 million), up from 28.86 billion rupees in the same period last year and matching exactly a Bloomberg survey of 35 analysts.
Shares in Infosys surged 10.95 per cent to 1,111.65 rupees on the Bombay Stock Exchange shortly after the announcement.
Chief executive Vishal Sikka said in a statement that the company, based in the southern high-tech hub of Bangalore, had benefited from “large deal wins and in the growth of large clients”.
He said Infosys, which would like to knock Tata Consultancy Services (TCS) off the top spot in India’s profitable IT sector, had signed six major deals in the first financial quarter totalling $688 million.
Sikka added that the 79 new clients had also been secured over the three months.
Infosys’ revenue in April-June rose 12.4 per cent to 143.54 billion rupees from 127.70 billion rupees a year ago, the company statement said.

India�s Infosys posts 5pc rise in profits

AFP, BANGALORE, India: Indian software giant Infosys Technologies reported a five per cent rise in quarterly net profits yesterday, aided by a weak rupee and strong demand from the United States. The countrys second largest IT services exporter said profits for April to June notched 30.3 billion rupees ($476 million), up from 28.86 billion rupees in the same period last year and matching exactly a Bloomberg survey of 35 analysts. Shares in Infosys surged 10.95 per cent to 1,111.65 rupees on the Bombay Stock Exchange shortly after the announcement. Chief executive Vishal Sikka said in a statement that the company, based in the southern high-tech hub of Bangalore, had benefited from large deal wins and in the growth of large clients. He said Infosys, which would like to knock Tata Consultancy Services (TCS) off the top spot in Indias profitable IT sector, had signed six major deals in the first financial quarter totalling $688 million. Sikka added that the 79 new clients had also been secured over the three months. Infosys revenue in April-June rose 12.4 per cent to 143.54 billion rupees from 127.70 billion rupees a year ago, the company statement said.