Infosys shows 25% growth but cautious about future - Global uncertainty continues

By Subhankar Kundu @ Friday, July 11, 2008 9:08 AM

Section - Business/Financials

The quarterly results of Infosys Technologies (ticker: INFY) were announced with revenue growing by 24.5% year on year.  The firm recorded growth in its net profit of $303 million (Rs 13.02 billion). A year earlier, it recorded a net profit of $254 million (Rs 10.79 billion).

CEO and Managing Director, S. Gopalakrishnan  said the uncertainty of  the global economic environment contined and could affect IT spending in the short term. But he sees several opportunities for growth as customers  continue to improve efficiency.

First quarter revenues stand at $1,155 million, and 49 new clients were added during the quarter by Infosys and its subsidiaries The company added 7,182 employees, bringing its total headcount to 94,379 people.

Chief Financial Officer, V. Balakrishnan said the margins for the quarter were affected due to increases in salary, but  offset by rupee depreciation. He thinks that the currency market will remain volatile in the short term. X