India's Infosys Reports 32 Percent Revenue Growth

Infosys Technologies, India's second largest offshore outsourcing company, said Wednesday revenues grew 32 percent in the quarter ended Dec. 31. Net income rose 27.7 percent to $143 million.

The Bangalore-based firm also said a large aerospace conglomerate picked Infosys to implement three large business-critical systems. Another client, a North American insurance and financial services firm, contracted with the outsourcing corporation to develop an agency front-end portal.

In all, Infosys said it added 36 clients in the quarter. The company currently has nearly 50,000 employees after adding some 3200 new employees in the quarter.

While the growth was impressive, it didn't match the 49 percent revenue jump Infosys recorded a year ago.

Infosys has made an effort in recent months to expand its outsourcing offerings beyond software programming to include advanced network management and consulting