More outsourcing boosts Infosys

Infosys' boss says growth is strong in the global IT services industry

The continuing global outsourcing boom has helped Indian software firm Infosys report a 70% leap in quarterly profits.

Infosys said its fourth quarter net profits rose to 11.4bn rupees ($267m; £134m) in the three months to 31 March, from 6.73bn rupees a year earlier.

The Bangalore-based company said outsourcing by overseas clients had surged during the past three months.

Infosys signed up 34 new corporate clients, including firms in the retail, aerospace and oil industries.

"The global IT services industry continues to show strong growth with exciting opportunities and Infosys is well positioned to take advantage of this," said chief executive Nandan Nilekani.

India's large and well-trained English-speaking engineering workforce, whose wages are on average a fifth of those in the West, has enabled Infosys to capitalise on the demand for outsourcing, as firms across the world seek to cut costs.

India's second-biggest computer software firm makes almost 90% of its revenue from overseas clients.

However, the firm said it expected earnings growth in the coming fiscal year to be more modest.