Infosys Q1 net up 17.3 per cent at Rs1,527 crore; revenues rise 12.7 per cent

Infosys Technologies today reported a 17.3 per cent rise in its consolidated first quarter (April-June 2009-10) net profit, at Rs1,527 crore. Total income for the quarter ended 30 June showed a growth of 12.7 per cent at Rs5,472 crore. Earnings per share increased 17.2 per cent to Rs26.66 from Rs22.75 in the corresponding quarter of the previous year.

The country's second-biggest software services exporter also marginally raised its full year forecasts after beating estimates helped by currency gains. The company, however, warned of a challenging global environment.

Despite the global economic downturn, Infosys and its subsidiaries, which count Goldman Sachs, Philips Electronics, BT Group Plc among their clients, added 27 clients during the quarter.

Employee strength showed a net decline of 945 against a gross addition of 3,538 employees. Infosys and its subsidiaries had 1,03,905 employees as of 30 June 2009.

"We believe that in the short term the global economic environment will continue to be challenging," said S Gopalakrishnan, CEO and managing director of Infosys. "We are working closely with our clients to help them navigate the downturn. We continue to invest in the future to take advantage of the growth opportunities in the medium to long term," he added.

"We believe that it is too early to say the (global) economy is better. There are conflicting signals," Gopalakrishnan said.