Infosys Q1 net up 28 pc at Rs 1,028 cr

MUMBAI: Software major Infosys Technologies on Wednesday posted a 27.70 per cent increase in net profit after tax at Rs 1,028 crore for the quarter ended June 30, compared to Rs 805 crore for the same period last year.

The total income of the company grew 27.03 per cent to Rs 3,806 crore for the quarter from Rs 2,996 crore for the corresponding period a year ago, the company informed the Bombay Stock Exchange.

As clients recognise the strategic imperative of global sourcing in an increasingly flat business world, the demand for large end-to-end players like Infosys continues to be strong, company's CEO and Managing Director S Gopalakrishnan said.

The group recorded a net profit after tax, exceptional items and minority interest of Rs 1,079 crore for the quarter, against Rs 800 crore for the corresponding period last year.

The total income of the group increased to Rs 4,026 crore for the quarter ended June 30, from Rs 3,143 crore in the year ago period.

In its business outlook, Infosys said it expects the revenue for the quarter ending September 30 to be in the range of Rs 3,952-Rs 3,993 crore, a growth of 14.5-15.7 per cent as from last fiscal.

For the year ending March 31, 2008, revenues are expected to be in the range of Rs 16,236-Rs 16,433 crore, a year-on-year growth of 16.9-18.3 per cent, it added.

Infosys added 35 new clients during the April-June quarter. Gross employee addition by the company and its subsidiaries during the period was 7,004. It has a total of 75,971 employees as on June 30, 2007.

The company's CEO and Managing Director S Gopalakrishnan said as clients recognise the strategic imperative of global sourcing in an increasingly flat business world, the demand for large end-to-end players like Infosys continues to be strong.

"We continue to focus on being a partner of choice to our customers," Gopalakrishnan said.

Balakrishnan said liquidity has been further strengthened with cash equivalents reaching $1.6 billion (Rs 6,442 crore).