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Profits Soar At India's Infosys On U.S. Business

India's second-largest software outsourcing firm said its quarterly net profit surged 67%, as U.S. companies rushed to inaugurate offshore-outsourcing deals with the firm.
Infosys Technologies, India's second largest software outsourcing firm, said its quarterly net profit surged 67 percent, as U.S. companies rushed to inaugurate offshore outsourcing deals with the Bangalore-based firm.

Announced Thursday, Infosys said it expected the rapid pace of growth to continue with earnings per share to increase nearly 25 percent in the year ending March, 2006. The company said it expects revenue to grow between 24.7 and 26.6 percent in the same period.

The company said its client list hit 438 in the fourth quarter, as it added 37 new customers during the period. Infosys, which has launched an aggressive campaign to hire 6,000, noted that it has hired some 1,500 employees recently, bringing its total headcount above 36,000.

For the fourth quarter, Infosys reported net income of 5.15 billion rupees ($117.5 million), up from 3.35 billion in last year's fourth quarter. Revenue was 19.87 billion rupees versus 13.5 billion in the previous year.

Infosys Technologies, financials, Bangalore, India, offshore outsourcing, U.S. firms, hiring, recruitment