Infosys posts 39.23 per cent rise in Q1 net
Bangalore: Infosys Technologies Ltd has posted a 39.23 per cent growth in net profits and a 38.61 per cent rise in revenues for June quarter in current fiscal, over corresponding last year. Driven by a robust volume growth and a weakening rupee, Infosys increased its net profit to Rs 388.34 crore on revenues of Rs 1,517.38 crore, as against a net profit of Rs 278.92 crore on revenue of Rs 1,094.70 crore in June quarter last year.

Following a strong revenue growth in Q1, Infosys raised its earnings forecast for the fiscal and second quarter. Infosys projects its income to be between Rs 6,731 crore and Rs 6,772 crore, a growth of 39-40 per cent for FY05. For Q2 ending September, Infosys projects its income to be between Rs 1,631 crore and 1,645 crore. Infosys added 29 new clients during the quarter to take its active client base to 419. The company added 2,305 employees to increase its overall headcount to 27,939. A weak rupee against the dollar has enabled the company to factor gains of Rs 730 crore in the current fiscal earnings guidance that was revised upwards.

While the weak rupee is likely to contribute Rs 330 crore, the company expects additional Rs 400 crore from its operations, thereby boosting its revenue in the current financial year. Both these components are likely to contribute close to Rs 261 crore to the company's net profit for the year. Infosys derives over 65 per cent of its revenues from North America.

The rupee shed 5.6 per cent against the dollar in the June quarter, its first loss in the last eight quarters. Since Infosys bills its clients in dollars and its costs are in rupees, the company gains in the range of 1.5-2 per cent in its earnings with the rupee depreciating by one per cent. Despite an outgo of close to Rs 800 crore towards dividend payout for 2003-04, Infosys has cash and equivalents totalling Rs 1,077.38 crore as on June-end.
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Nasscom rankings for software and service exports
New Delh: The Tata Consultancy Services has emerged as the top software and service exporter from India in 2003-04 with an export revenue of Rs 5,503 crore, followed by Infosys Technologies and Wipro, according to Nasscom. According to Nasscom the top six IT software and service exporters remained firm in their slots over the entire year, and changes were evident from seventh position onwards, when compared with 2002-03 rankings.

As per Nasscom's Top 20 Software and Service exporters (excluding ITES-BPO revenues) ranking for the year ended March 2004, Infosys with export revenue of Rs 4,709 crore and Wipro with export turnover of Rs 3,920 crore retained second and third slots, respectively. Satyam Computer Services, which clocked exports of Rs 2,472 crore, and HCL Technologies Ltd with export revenue of Rs 1,895 crore, occupied the fourth and the fifth positions, respectively.

The Nasscom rankings placed Patni Computer Systems at the sixth slot with exports of Rs 1,223 crore. i-flex Solutions with export revenue of Rs 773 crore went past Mahindra British Telecom to occupy the seventh position, even as the latter ended in eighth position with exports of Rs 727 crore. The combined revenue of the top 20 exporters stood at Rs 26,464 crore ($5.77 billion) in 2003-04, witnessing a growth of 31.6 per cent in dollar terms. The total combined revenue was Rs 20,668 crore in 2002-03.
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Skoda announces plans to set up R&D units
New Delhi: Skoda Auto India Pvt Ltd (SAIPL) has said that it is planning to set up Research and Development (R&D) units in the country, inspired by the 150 per cent deduction on in-house R&D announced in the Union Budget. SAIPL also said that the automobile industry would be indirectly benefited with the 15 per cent additional depreciation given on plant and machinery for a capacity growth of 10 per cent or more.
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BHEL bags Rs 6 crore order for solar cells
Bangalore: The electronics division of Bharat Heavy Electricals Ltd has bagged an order for supplying solar photovoltaic cells to S.E. Projects, Italy. The order worth Rs 6 crore envisages supply of monocrystalline solar cells to the Italian company.
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Nippo shifts account to O&M Chennai
Chennai: O&M, Chennai, has bagged the Rs 5-crore Nippo account from Hakuhodo Percept, Chennai. Indo National Ltd, the manufacturer and marketer of the Nippo range of batteries and torches, has shifted the brand's advertising responsibilities to O&M, according to an O&m release.
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Katrina Kaif to model for Old Admiral brand
Bangalore: Radico Khaitan Ltd has signed model Katrina Kaif as the face for its Old Admiral brand. Old Admiral Brandy has been one of the successful introductions in the Indian Made Foreign Liquor market. The brand recently extended its portfolio into Old Admiral Whisky, Old Admiral Rum and Old Admiral Pure water.
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Ford launches customer loyalty schemes
Chennai: Ford owners will earn points every time they visit an authorised dealer for following the service schedule given by the company, buying spares and Ford gear from dealers and for continued ownership of a Ford vehicle. Under the scheme - Car Gainz - customers will get redeemable points in three ways. Service points will be awarded in proportion to the amount spent when a vehicle is sent to a dealer for service; bonus points will be given when a vehicle owner follows the prescribed periodic maintenance service; and loyalty points for continued ownership and availing of the prescribed periodic maintenance service.

The loyalty points can be redeemed only at the time of exchange for a new Ford vehicle. The points scheme will be effective for five years. Ford India also launched a 24-hour roadside assistance programme and a `Ford emergency help line'. The roadside assistance programme will cater to customers' emergency requirements through the dealership network. The national help line number will provide access to emergency support in any part of the country. This service can be accessed at +91 98415 00333.
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Marico launches Mediker with natural ingredients
Hyderabad: MARICO Industries Ltd (MIL), the Mumbai-based Rs 885-crore FMCG player in the hair and edible oils segment, has announced the national launch of its Mediker brand of anti-lice treatment shampoo and oil in a natural avatar. The Mediker formulation would now be powered with natural ingredients such as neem, camphor and coconut oil to effectively fight the problem of lice.
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