Infosys Technologies net profit at Rs 1302 crores in Q1

Bangalore, July 11 (ANI/Business Wire India): Infosys Technologies today announced the consolidated results for the quarter ended June 30, 2008.

-- Income was Rs. 4,854 crore for the quarter ended June 30, 2008; YoY growth was 28.7 per cent

-- Net profit after tax* was Rs. 1,302 crore for the quarter ended June 30, 2008; YoY growth was 20.7 per cent

-- Earnings per share* increased to Rs. 22.75 from Rs. 18.89 in the corresponding quarter in the previous year; YoY growth was 20.4 per cent

* The net profit for the quarters ended June 30, 2008 and June 30,2007 includes a reversal of tax provisions amounting to Rs. 31 crore and Rs. 51 crore respectively. Excluding this reversal, the earnings per share for the quarters ended June 30, 2008 and June 30, 2007 would have been Rs. 22.20 and Rs. 18.00 respectively, resulting in a YoY growth of 23.3 per cent.

Others

-- 49 new clients were added during the quarter by Infosys and its subsidiaries

-- Gross addition of 7,182 employees (net 3,192) for the quarter by Infosys and its subsidiaries

-- 94,379 employees as on June 30, 2008 for Infosys and its subsidiaries

"Although the global economic environment continues to remain uncertain and could impact IT spending in the short term, we see several opportunities for growth as customers relentlessly focus on improving efficiency," said S. Gopalakrishnan, CEO and Managing Director.

During the quarter, clients and market influencers recognized Infosys' leadership in the industry as well as its service excellence and delivery efficiency.

"The pricing environment continued to remain stable during the quarter. Our end-to-end services combined with our consulting capabilities position us as a transformational partner for our large clients," said S.D. Shibulal, Chief Operating Officer.

"We saw strong growth in the manufacturing sector during the quarter. We are excited about new opportunities where large customers are partnering with Infosys on their innovation and R and D journey," said B.G. Srinivas, Member - Executive Council, Senior Vice President and Global Head - Manufacturing Unit.

ANI