Infosys quarterly profit up 15 percent

Jul 11, 2014 by Kay Johnson

(AP)—Indian outsourcing company Infosys reported a 15 percent increase in quarterly profit on Friday and maintained its revenue growth forecast.

The company said its April-June quarter profit of $482 million was up 15.3 percent from a year earlier.

The information technology outsourcing giant has gone through a succession of management changes, culminating with the naming of Vishal Sikka as chief executive officer. Sikka is a former board member of technology company SAP AG and is the first outsider to hold the CEO job at Infosys.

The company reported revenue of $2.1 billion. It maintained its forecast for full-year revenue growth at 7 to 9 percent in dollar terms.

Infosys shares rose 1.1 percent to 3,326 rupees ($55) after the earnings report.

The quarterly profit was down 1 percent from the January-March quarter as Infosys faces higher wages to keep talent and pricier visas for its employees in the U.S.

Infosys employs more than 160,000 people but Chief Operating Officer U. B. Pravin Rao acknowledged that the company has lost employees to competitors.

"Employee attrition rates are worrisome and we are implementing various initiatives to retain good talent," Rao said.

Infosys has been reporting better times in recent quarters after suffering along with other Indian outsourcers from lower spending by clients during the global downturn.

The problems prompted the company to temporarily bring back co-founder Narayana Murthy as executive chairman to help with an overhaul. Murthy stepped down just before Sikka was named CEO.

Explore further: India's Infosys shares up after new chief named

not rated yet
add to favorites email to friend print save as pdf

Related Stories

India's Infosys sees weaker sales, shares tank

Mar 13, 2014

Shares of Indian outsourcing giant Infosys slid almost nine percent Thursday after the firm warned that quarterly revenues may be weaker-than-expected following project cancellations.

Recommended for you

Sony's quarterly loss balloons on mobile woes

15 minutes ago

Sony's losses ballooned to 136 billion yen ($1.2 billion) last quarter as the Japanese electronics and entertainment company's troubled mobile phone division reported huge red ink.

Will Apple Pay be mobile pay's kick-start?

7 hours ago

If anyone can get us to use our smartphones as wallets, it's Apple. That's what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.

Google execs discuss regulation, innovation and bobble-heads

9 hours ago

Eric Schmidt and Jonathan Rosenberg help run Google, one of the world's best-known, most successful - and most controversial - companies. They've just published a new book, "How Google Works," a guide to managing what they ...

LinkedIn reports 3Q loss but sales climb

10 hours ago

LinkedIn Corp. posted a third-quarter loss on Thursday, but its results were better than expected as revenue grew sharply, sending shares of the online professional networking service higher in extended trading.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.