Infosys up but declines quarter on quarter

Indian outsourcing giant Infosys Technologies said that it turned in revenues of $1.358 billion for the quarter ending 30 June and made a net profit after tax of $326 million.

But while its Q1 revenues grew 21 percent year on year, quarter on quarter things were not so rosy with a quarter on quarter decline in net profit of 6.6 percent. Its CEO,  S. Gopalakrishnan said there was still uncertainty in the market although Infosys continued to see demand for its services.

It hired 8,859 people in the quarter meaning that on June 30th last it had 114,822 staffers across 50 offices.

During the quarter, it added 38 customers to it and its subsidiaries’ portfolios.

Its chief financial officer, V. Balakrishnan, warned that the “volatile currency environment” is a worry for the industry. But, he claimed, Infosys has a flexible financial model that allows it to “focus on high quality growth even in this tough environment”.