Skip to: Content
Skip to: Site Navigation
Skip to: Search

October 7, 2008 8:21:31 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Infosys Profits Up 26% This Quarter

Posted Jan 11, 08 2:21 PM CST in Technology,  Business 

(Newser) – Infosys saw its profit go up 25.6% int the October to December quarter, the Indian company said Friday. It credited tax refunds and new outsourcing jobs: the company added 47 clients, including an unnamed European bank and a global brokerage firm, reports AP. Infosys raised its 2007 revenue forecast slightly, but not enough to match investors’ expectations, and its shares dropped by 1.3%.

While profit for the quarter outstripping many forecasts, they wanted more. "The earnings and operating margin performance are more or less in line with expectations, but the company hasn't increased its full-year earnings guidance enough to enthuse the market," one Mumbai-based analyst told Marketwatch. Infosys is India’s second-largest software company.

Sources Associated Press, MarketWatch

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • US Slowdown Hits India's IT Sector Hard

    Aug 20, 08 10:00 AM CDT
    US Slowdown Hits India's IT Sector Hard The credit crunch that has shifted the US economy into neutral has slowed the growth of India’s tech sector, which once boasted growth rates of 40% in the overall strong economy, the Wall Street Journal reports. The slowdown comes as the sector faces increasing competition from abroad and rising labor costs at home, and a weak dollar eating into profit margins. More »

  • India's IT Hub Challenging Politics as Usual

    May 20, 08 3:01 PM CDT
    India's IT Hub Challenging Politics as Usual For years, Bangalore—India’s answer to Silicon Valley—has endured traffic jams, power blackouts and a chaotic airport that businesses blame on politicians who’ve ignored the city’s IT elites to court rural voters. Now, Reuters reports, an updated constituency map giving urban voters more clout has hope high for change after state elections end Thursday. More »

  • Indian Phone Banks Tackle US Debt Collection

    Apr 24, 08 2:20 PM CDT
    Indian Phone Banks Tackle US Debt Collection As individuals' debt grows in a tough economy, US debt-collection agencies are expanding into India, where collectors work more cheaply—and are often better, the New York Times reports. Indian collectors are “very polite, very respectful, and they don’t raise their voice,” says one CEO. And a big payout in India can be a quarter of the salary American collectors expect. More »

  • India: Solution to US Health Crisis

    Mar 28, 08 2:32 PM CDT
    India: Solution to US Health Crisis India is a top destination for uninsured Americans needing major surgery, the Chicago Tribune reports, with prices up to 85% lower than US rates. Last year, India welcomed 150,000 medical tourists, the Chicago Tribune reports—and now, HMOs want a piece of those savings. “Employers may soon follow in the footsteps of individuals,” a recent American Medical Association report concluded. More »

  • US May Move to Restrict H-1B Visa 'Cheaters'

    Mar 7, 08 8:11 PM CST
    US May Move to Restrict H-1B Visa 'Cheaters' The US is expecting a record number of applications for H-1B visas—given to highly skilled, specialized foreign workers—and is considering rules to penalize companies that try to improve their chances, ComputerWorld reports. Desperate firms have been known to send more than one application—123, 480 were received last year; 65,000 are awarded—for the same individual to increase odds of being selected. More »

Infosys Technologies Ltd. Chief Executive Officer K. Gopalakrishnan, right, along with Chief Financial Officer V. Balakrishnan look on after announcing the company's quarterly financial results at their...   (Associated Press)
Infosys Technologies Ltd. Chief Executive Officer K. Gopalakrishnan looks on after announcing the company's quarterly financial results at their headquarters in Bangalore, India, Friday, Jan. 11, 2008....   (Associated Press)
Infosys Technologies Ltd. Chief Executive Officer and Managing Director K. Gopalakrishnan, right, and Chief Operating Officer S. D. Shibulal look on after announcing the company's quarterly financial...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 1)

Tags

India  • software  • Asian markets  • outsourcing  • Infosys


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »