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Indian IT giant sees shares rally as profits rise
January 11, 2013, 4:45 pm

Infosys Technologies CEO S.D. Shibulal smiles as he listens to a question from a journalist after announcing the company's quarterly financial results in Bangalore, India. [AP]

Infosys Technologies CEO S.D. Shibulal [AP]

Shares of Indian IT giant, Infosys increased by nearly 17 per cent – on stronger-than-expected quarterly profit and an upward full-year sales forecast.

The company said its net profit was $434 million in the three months to December 2012.

Revenue rose 5.8 per cent year-on-year to $1.91bn in the latest quarter.

Infosys has now raised its sales forecast for the year ending March 31 to at least $7.45 billion, including $104 million in additional revenue following its acquisition of Switzerland-based consultancy Lodestone Holdings.

Following gains in these stocks, the BSE IT index shot-up by 9.34 per cent to close at 6,252.26 and was the top gainer among the 13 sectoral indices.

Infosys is the second largest software services firm in India and has sales offices in 29 countries and development centers in India, US, China, Australia, UK, Canada, Japan and many other countries.

Source: Agencies

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