Business
Infosys Q4 revenue up, profit down
Infosys booked a 4.1 percent drop in profit to US$444 million and warns global economic uncertainties remain challenging for the IT industry.
Infosys posted a 9.4 percent increase in fourth quarter revenue at US$1.9 billion income, but saw profit decline by 4.1 percent over the same period to US$444 million.
In a statement released today, Infosys projected revenues to grow by 6 to 10 percent over the coming year.
Global economic uncertainties remain challenging for the IT industry, said Infosys CEO S. D. Shibula.
"We are progressing well on our strategic direction of building a high-quality company which is relevant to our clients. We are making all the investments necessary to differentiate ourselves in the market place while positioning ourselves as a partner of choice for our clients," he added.
The company announced a number of developments in the last quarter:
- Committed US$100 million to invest in new software product development.
- Sold software products to 12 new clients, taking its total in this regard to 75.
- Opened new delivery centres in Germany and Costa Rica, and an onshore operations center in the Metro Atlanta Area, U.S.
- Applied for 21 unique patent applications in India and the U.S., and a total of 532 unapproved submissions. The United States Patent and Trademark Office granted Infosys 84 patents.
Over the quarter, Infosys began servicing 56 new clients but headcount grew by less than one percent to 156,688 employees. It has US$4.4 billion in liquid assets, including cash.