Indian IT services company Infosys said revenues in its fourth quarter were $1.3 billion, up 15% year over year from $1.12 billion in 2009. Net profit amounted to $349 million, compared to $321 million last year. However, the profit did include income of $11 million from the sale of an investment.
"We have been able to take advantage of the opportunities in the market and grow faster due to our investments in capacity and capability building even during the economic downturn," someone worded for CEO S. Gopalakrishnan.
"Though the economic environment continues to be challenging, businesses are investing in growth for building a better future." In other terms, companies are
outsourcing to save money, which is why Infosys won 47 new clients in its last quarter and added more employees, bringing it to a total headcount of 113,796 employees.
For the full year, Infosys saw revenues grow from $4.66 billion in 2009 to $4.8 billion. Earnings after taxes totalled $1.31 billion. A year earlier, the company had posted a net profit of $1.28 billion.
Infosys expects revenues in the current first quarter to be somewhere between $1.33 billion and $1.34 billion, or 18.5 percent to 19.4 percent more. Net profit is to stay flat and merely grow 0 percent to 1.8 percent. Revenues for the fiscal year, which has just begun, are prophesied to expand by 16% to 18%, meaning they will lie in the range of $5.57 billion and $5.67 billion. This would signify a year over year growth of 16 percent to 18 percent.