Business & Finance
10:00 AM
Connect Directly

Infosys Posts Robust Increase In Second Quarter Sales, Profits

The company's sales topped the $1 billion mark in the first six months of 2005, a mark it took all of 2004 to achieve.

Indian IT services provider Infosys Technologies continues to benefit from the boom in offshore outsourcing. The Bangalore-based company on Tuesday said revenues for its second quarter increased 38.3%, compared to the same period a year ago, to $524 million. Per-share earnings jumped to 51 cents from 36 cents a year earlier.

Infosys also added 34 new customers and grew from 40,000 to more than 46,000 employees during the period ended September 30.

For the first six months of its fiscal year, Infosys' sales topped the $1 billion mark, a level it took the company a full year to reach as recently as 2004.

In a statement, Infosys CEO Nandan Nilekani said the company's robust growth was due in part to moves to offer "a broad array of services" by diversifying beyond basic IT work and deliver higher value offerings, such as consulting and business-process outsourcing.

Among the new customers Infosys added during the quarter was Dutch financial services giant ABN Amro. Infosys was among a team of vendors picked by the bank to manage its infrastructure and application services under contracts worth more than $2 billion. Infosys' portion of the work is expected to be worth at least $125 million.

Looking ahead, Infosys said it expects its revenues for its fiscal year ending March 2006 to total about $2.14 billion.

Comment  | 
Print  | 
More Insights
IT's Reputation: What the Data Says
IT's Reputation: What the Data Says
InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Government Oct. 20, 2014
Energy and weather agencies are busting long-held barriers to analyzing big data. Can the feds now get other government agencies into the movement?
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
A roundup of the top stories and trends on
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.