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  • Infosys Q4 Profit Rises 27.4%, Meets Forecast

    Infosys Ltd, India's second-largest software services exporter, reported a 27.4 percent rise in quarterly net profit, meeting forecast, after customers ramped up orders to cut operational costs.

    Bangalore-based Infosys said on Friday consolidated net profit for the fiscal fourth quarter ended March 31 rose to 23.16 billion rupees from 18.18 billion rupees a year earlier.

    Infosys and its bigger rival Tata Consultancy Services Ltd , part of India's $100 billion information technology and back-office services outsourcing sector, have benefited from cost-conscious customers bumping up demand.

    An uncertain global economy and rising U.S. rhetoric against shipping of jobs to low-cost locations ahead of the November presidential election are, however, concerns for the sector that gets half its revenue from the world's largest economy.

    Tata Consultancy, Infosys and No. 3 exporter Wipro are also facing increased competition from bigger global rivals such as IBM and Accenture

    Infosys

    Apr 24 2:49 AM | Link | Comment!
  • Infosys, TCS To Feel The Heat Of Competition, U.S. Election

    India's leading software exporters are expected to face a challenging year ahead due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations ahead of the November presidential election.

    That may well take the shine off strong January-March results for companies such as Infosys and Tata Consultancy Services, which benefited from cost-conscious customers bumping up demand. The results are set to be released over the next few weeks.

    Investors will focus on what the companies in India's USD 100 billion information technology and back-office services outsourcing sector project for growth, their hiring plans as well as comments on the pricing environment and outlook for discretionary spending by clients.

    Global investor sentiment has turned fragile after recent data, including a weak March United States jobs report and renewed concerns on European sovereign debt highlighted risks to the nascent global economic recovery. The Indian outsourcing industry gets about three-quarters of its revenue from the United States and Europe.

    Infosys TCS

    Apr 24 2:44 AM | Link | Comment!
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