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Last Updated: Thursday, 10 July, 2003, 06:11 GMT 07:11 UK
Outsourcing lifts Infosys profits
Nandan Nilekani, president and managing director of Infosys.
Mr Nilekani predicts business growth
India's second largest software exporter, Infosys Technologies, has reported a 28% rise in profits during spring, largely because global players contract out ever more work to India.

"There is an increased interest in offshore outsourcing as global corporations realise its benefits," said Infosys president and managing director, Nandan Nilekani.

"Business opportunities continue to grow. However, the pricing environment remains challenging," he added.

The Nasdaq-listed company reported net profits of 2.8bn rupees (28m; $46m) during the three months to June 30.

That's up from 2.1bn rupees during the previous three-month period.

Analysts had predicted profits of about 2.6bn rupees.

Infosys insisted that it will continue to invest in sales, marketing and new services.

Infosys stock rose 11% on the back of the news.


SEE ALSO:
Infosys shares plunge on results
10 Apr 03  |  Business
Indian software exports surge
11 Feb 03  |  Business


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