Net profit of Infosys for the fiscal fourth quarter amounts to 29.92 billion
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 29.92 billion ($496.72 million), compared to 23.9 billion rupees in the same period a year earlier. Infosys 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.
( Source : reuters )
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