Infosys Q4 profit up 21 per cent | india | Hindustan Times
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Infosys Q4 profit up 21 per cent

Infosys, which listed on the markets in 1993, also announced a bonus issue in the ratio of one share for every held.

india Updated: Apr 14, 2006 13:20 IST

Infosys Technologies Ltd reported a 20.6 per cent rise in its quarterly net profit on Friday, bolstered by a strong growth in orders from overseas clients.

Nasdaq-listed Infosys, the showpiece of India's globally feted export-focused software sector, posted a net profit of Rs 6.73 billion in the three months ended March, versus a revised 5.58 billion a year ago.

Infosys also announced a bonus issue, its ninth, in the ratio of one share for every held.

The Bangalore-based firm, which counts ABN AMRO Bank as one of its clients, has been instrumental in raising the global profile of India's software industry, that depends on a growing army of low-cost, English-speaking engineers.

The sector's software services revenues are expected to cross $23 billion in the year ended March 2006, up more than 30 per cent over last year as companies sign longer-term and large-sized contracts.

Infosys, which listed on the Indian markets in June 1993, was the only stock in the 30-issue main index to post a fall in the past quarter. It declined 0.5 per cent against the stellar 20 per cent gain on the benchmark.

The stock closed 1.8 per cent down at Rs 3,020.80 in a weak market on Thursday.