Tuesday, October 11, 2005

Infosys Reports 36% Rise in 2Q Net Profit

Infosys Technologies, the Indian IT services provider, has reported a 36 percent increase in its net profit for 2Q 2005, driven by the increased demand for technology outsourcing services by overseas companies.

The company’s net income rose from INR 4.47 billion a year earlier to INR 6.06 billion. According to Nandan Nilekani, CEO and Co-founder, Infosys, the company received a number of contracts from Europe, including part of a EUR 1.8 billion contract from ABN AMRO.

The company expects to report a 31 percent rise in sales in the quarter, bringing in INR 24.5 billion in revenues.

No comments: