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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