Infosys Earnings Slip
Infosys (INFY) Technologies Ltd. Tuesday reported a slight drop in its fourth quarter bottomline but issued a strong dollar outlook for the current fiscal year, indicating that a revival in India’s outsourcing industry is continuing to gather momentum.
Another strong sign of improving times was a 5.2 percent on-month growth in business volume, as well as the addition of 47 new clients and the hiring of more than 9,000 employees.
“The results are pretty decent for the quarter. The guidance definitely indicates that they are feeling pretty confident about their ability to grow in the given environment,” said Tejas Doshi, vice president of research at Sushil Financial Services Pvt. Ltd.
Infosys’ consolidated net profit in the three months through March was 16.00 billion rupees ($360.6 million), down one percent from 16.15 billion rupees a year earlier and compared with 15.59 billion rupees in the previous quarter.