Infosys net profit grows 2.21 pct in quarter four results

Infosys Technologies, a software services exporter posted 2.21 percent growth in net profit at rupees 16.17 million for the fourth quarter ending March 31, 2010. S D Shibulal, Chief Operating Officer, Infosys, Bangalore disclosed this at a press conference here on Tuesday. "The quarter has done very well. We have grown 5.2 percent in volume terms. Our top 25 clients have grown 7.6 percent, so it has been a very good quarter for us," said Shibulal. Infosys, sector leader Tata Consultancy Services, and the third-ranked Wipro have revived hiring, signalling improving demand for the outsourcing sector. Infosys added 47 clients during the period between January and March, its strongest pace of additions in seven quarters, taking the total tally to 575. Over 1.8 million of Infosys shares were traded on the BSE, while over 17 times the daily average over the last 30 days. "At the beginning of the year, we had said that our operating margin would down by about 300 basis points. We are ending the year with an operating margin increase of 90 basis points. So, clearly again our initiatives towards controlling costs, our initiatives to manage our expenses have worked. We have also been able to take advantage of the growth," said Chris Gopalkrishnan, Chief Executive Officer and Managing Director, Infosys Technologies, Bangalore. Infosys, which counts Goldman Sachs, BT Group and BP among its customers, expects its dollar revenue to rise 16-18 percent in the year that started on April 1. Most brokerages were expecting growth of 12-15 percent. Bangalore-based Infosys, set up in 1981 with 250 dollars borrowed from the spouses of their seven founders, expects its earnings per share to rise 4.3-8.6 percent for the full year. Sources: Sify (ANI)