Infosys shows burst in revenues, profit

Bangalore outsourcing company Infosys turned in sparkling results for its second financial quarter.

Its revenues rose to $1.496 billion, a 29.6 percent increase on the same quarter last year.

And its net profit was $374 million for the quarter, up 18 percent compared to last year.

Infosys said it picked up 14,264 employees during the quarter giving it a grand total of 122,468 employees as of September 30 2010. It also picked up 27 new customers during the quarter.

CEO S. Gopalkrishnan said that although the economic climate continued to be challenging, Infosys had managed to grow its business.  Its forecast for the fourth quarter is that it will turn in revenues of between $1.547 million and $1.562 million.  That means that for the whole financial year it will be a $6 billion company.