Infosys reports red-hot Q4 results
Expects $2bn in revs in FY2006
Infosys, the Indian software firm, has reported net income of $127m for the quarter ending 31 March, up from $77m in the same period last year. Revenues for Q4 jumped 50.2 per cent to $455m, against $303m a year ago.
Full year performance was also strong, with revenues for FY05 topping $1.5bn, up over $500m on the year before. Net income for the year was $419m, up from $270m in the 2004 fiscal year.
The company said its performance was driven by strong demand for outsourcing - it signed deals with 37 new clients in the quarter - and exceptional revenues from an asset sale.
Looking ahead, Infosys' chief executive Nandan Nilekani said he expected revenues for 2006 would top $2bn. "We are beginning to see the results of various initiatives taken over the last few years," he said in a statement.
The company warned that growth could slow in the the first quarter of FY06 because of various regulatory issues. It predicted growth of between 37 and 38.2 per cent, translating to revenues of between $458m and $463m for the quarter.
Last month, Infosys' Indian offices were evacuated following a bomb scare. No explosives were found.
You can read more about the results here.®