Rediff On The Net, Infotech: Infosys' Q1 net profit surges 156 per cent


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July 9, 1999

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Infosys' Q1 net profit surges 156 per cent

Software major Infosys Technologies Limited has registered a whopping 156 per cent surge in net profit during the first quarter of the current fiscal to touch Rs 606 million from Rs 237 million in the same quarter last year.

T O D A Y

• Mr Locksmith
• Infosys Q1
• Modem sales up

The company's total income in April-June stood at Rs 1.84 billion, up 87 per cent from Rs 984 million a year earlier.

The company stated that fluctuations in the rupee exchange rate in the quarter as compared with the exchange rate on March 31 helped raise its income by Rs 36.2 million and profit before tax by Rs 20.3 million.

Infosys' income from software development services and products overseas stood at Rs 1.68 billion while in the domestic market the corresponding income was to the tune of Rs 963.8 million.

It incurred software development expenses of Rs 891.9 million while administration and other expenses stood at Rs 136.1 million.

Total expenses was Rs 1.06 billion during the quarter from Rs 668.2 million a year earlier.

UNI

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