India's Infosys reports quarterly profit jumps 70% on outsourcing demand

[OhioChick]

Source: AP

NEW DELHI — India's Infosys Technologies Ltd. said quarterly net profit jumped 70.4 per cent from a year ago on sustained momentum in outsourcing and predicted on Friday that revenue would grow as much as 30 per cent this year.

Bangalore-based Infosys said net profit rose to $259-million (U.S.) in the January-March quarter compared with $152-million in the same period a year ago. Profit for the latest quarter included a tax refund of about $29-million, it said.

Revenues rose 46 per cent to $863-million during the quarter, taking annual revenues in the financial year ended March to $3.1-billion. Infosys' financial year runs from April through March.

The earnings numbers, which conform to U.S. accounting standards, beat analysts' expectations and lifted Infosys shares by 2.9 per cent in intraday trading on the Bombay Stock Exchange.



Read more: http://www.theglobeandmail.com/servlet/story/RTGAM.20070413.winfosys0413/BNStory/Business/home

[hippiechick]

1. The company I work for uses them ...

... they have several offices stateside as well as the HQ in India.

Not sure how I feel about this because as much as I dislike the outsourcing concept, and have seen it fail miserably at my company before, I've got to know the folks that Infosys has sent to us and they're some bright, good people that I'm happy to consider friends. They're just trying to support their families, too.

A conundrum.

[tanyev]

2. Hmph. The company my husband works for is in the process of moving

a lot of their outsourcing from Infosys to China because there are so many problems with the quality of work coming from Infosys.