BANGALORE, 13 July 2006 — Indian software giant Infosys said yesterday that first-quarter net profit jumped 50.3 percent as it won more clients amid an outsourcing boom and forecast a gain of nearly 40 percent for the year.
Profit at the NASDAQ-listed company for the three months to June was eight billion rupees ($177 million) on revenues that climbed 45.6 percent from a year earlier to 30.2 billion rupees, Nandan Nilekani, chief executive officer of Infosys said.
“We witnessed strong growth during the quarter and we believe we have the required scale, execution capabilities and end-to-end service offering to take advantage of the momentum seen in the marketplace,” he told reporters. The company’s shares closed up 235.75 rupees or 7.5 percent to 3,386.45. The benchmark 30-share Mumbai Stock Exchange Sensex index gained 315.74 points or 2.97 percent to 10,930.09.
Infosys, India’s second largest software exporter after Tata Consultancy Services, said it added 38 new clients during the first quarter.