Infosys raises sales outlook as it reports earnings jump

N R Narayana Murthy speaks at an Infosys press conference Infosys founder N R Narayana Murthy returned as the company's chairman in June

Related Stories

Infosys has raised its full-year sales outlook as it reported a 21% rise in earnings for the three months to December compared with a year earlier.

The company reported net profits of 28.75bn Indian rupees ($463m; £281m) for its fiscal third quarter.

For the year to March, it now expects a 12% rise in revenues, compared with a previous estimate of 10%.

Much of the company's turnaround is being attributed to the return of founder N R Narayana Murthy.

Start Quote

The year ahead looks exciting... we believe the global economic environment has improved”

End Quote S D Shibulal Chief executive, Infosys

Mr Murthy returned as the company's chairman in June last year, nearly 10 years after he had given up executive control. He rejoined at a time when Infosys was suffering from shrinking revenues, rising employee attrition and sinking morale.

The company's performance has also been boosted by an economic revival in US and Europe, which has led to more demand for outsourcing services.

New clients

In a statement released with the latest earnings, S D Shibulal, chief executive and managing director at Infosys said: "The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives."

India's second biggest software services exporter added 54 new clients in the final three months of last year.

It now serves over 150 active customers, and its client list includes Bank of America as well as the UK's BT Group.

Infosys is seen as a key indicator of the health of India's IT outsourcing industry, which is valued at more than $100bn.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories


BBC Business Live

    SUNDAY TRADING 06:05: Radio 5 live

    Ewen Cameron-Watt, chief investment strategist of investment institute at BlackRock, is on 5 live, talking about Sunday trading for shops. "There's a law of diminishing returns for Sunday trading," he says. Will shops make back their costs, he asks? "Are we really going to be doing our weekly shop at 10 past 8 on a Sunday?" Not him, he says.

    06:00: Howard Mustoe Business reporter

    Good morning from the Business Live team. You can get in touch via or @BBCBusiness on twitter

    06:00: Matthew West Business reporter

    Morning folks, lots of news promised for today. It's the start of a new era at Sainsbury's under boss Mike Coupe; we have the monthly interest rate decision from the Bank of England, India announces its first Budget under new prime minister Narendra Modi; another house price index - this time from the Royal Institution of Chartered Surveyors - and a trading update from Burberry. So plenty to come.



BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.