Infosys Q4 net profit up 25 per cent, beats forecasts
BANGALORE: Infosys Ltd, India's second largest IT services
exporter, reported a 25 per cent increase in quarterly net profit,
beating estimates, as it added new clients including Chinese-owned
Swedish automaker Volvo Car Corp.
The Bangalore-based company's
consolidated net profit for the fiscal fourth quarter ended March 31
was Rs 29.92 billion ($496.72 million), compared to Rs 23.9 billion in
the same period a year earlier.
That compared with an average estimate of 28.1 billion rupees in a survey of 23 analysts by Thomson Reuters.
Infosys, which has been losing market share to more aggressive local rivals in recent years, brought back its founder N R Narayana Murthy from retirement in June last year to revive the company's fortune.
The company, however, has seen an exodus of senior executives and staff
since Murthy's return, triggering concerns about its ability to compete
for lucrative outsourcing contracts in the United States and Europe.
jawed eqbal
pgdm 2nd sem
Infosys, which has been losing market share to more aggressive local rivals in recent years, brought back its founder N R Narayana Murthy from retirement in June last year to revive the company's fortune.
The company, however, has seen an exodus of senior executives and staff since Murthy's return, triggering concerns about its ability to compete for lucrative outsourcing contracts in the United States and Europe.
The company, however, has seen an exodus of senior executives and staff since Murthy's return, triggering concerns about its ability to compete for lucrative outsourcing contracts in the United States and Europe.
jawed eqbal
pgdm 2nd sem
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