Infosys posts higher growth
By Bangalore: | 10 Jul 2003
Bangalore: Infosys Technologies' income from software development services and products was Rs 1,081.98 crore for the first quarter ended 30 June 2003 — an increase of 41.51 per cent over comparable income for the corresponding quarter in the previous year.
Earnings per share from ordinary activities increased to Rs 41.98 from Rs 32.76 for the corresponding quarter in the previous year — an increase of 28.14 per cent. Twenty-two new clients were added during the quarter.
Outlook for the quarter ended 30 September 2003:
- Income from software development services and products is projected to be between Rs 1,086 and Rs 1,095 crore
- Earnings per share is expected to be between Rs 42.00 and Rs 42.10
Outlook for the fiscal year ending 31 March 2004
- Income from software development services and products is projected to be between Rs 4,420 and Rs 4,483 crore
- Earnings per share is expected to be between Rs 168.20 and Rs 168.50
Business outlook
"There is an increased interest in offshore outsourcing as global corporations realize its benefits. Business opportunities continue to grow. However, the pricing environment remains challenging," says Infosys CEO, president and managing director Nandan M Nilekani. "Our value proposition to clients remains strongly differentiated, despite the increasing presence of global competitors."