Infosys Q4 Net Profit up 25 Percent, Beats Forecasts
April 15, 2014 2:19 PM EST
Infosys Ltd, India's second largest IT services exporter, reported a 25 percent increase in quarterly net profit, beating estimates, as it added new clients including Chinese-owned Swedish automaker Volvo Car Corp.
The Bangalore-based company's consolidated net profit for the fiscal fourth quarter ended March 31 was 29.92 billion rupees ($496.72 million), compared to 23.9 billion rupees in the same period a year earlier.
That compared with an average estimate of 28.1 billion rupees in a survey of 23 analysts by Thomson Reuters.
Infosys, which has been losing market share to more aggressive local rivals in recent years, brought back its founder N.R. Narayana Murthy from retirement in June last year to revive the company's fortune.
The company, however, has seen an exodus of senior executives and staff since Murthy's return, triggering concerns about its ability to compete for lucrative outsourcing contracts in the United States and Europe.
($1 = 60.2350 Indian Rupees)
Most Popular Slideshows
- Real Life ‘Frozen’: Snow Overwhelms The US, Kills 7; More To Come (Pictures)
- Angelina Jolie, Brad Pitt in Sydney for ‘Unbroken’ Red Carpet Premiere [PHOTOS]
- ‘The Walking Dead’ Season 5, Episode 8 Spoilers: Daryl Dixon Is Set To Burn The Place Down in ‘Coda’
- G20 Summit Awkward Moments: Putin Yawns, Mystery Bubbles Appear, F18 Drama Ensues
Join the Conversation
- Walmart Early Price Matching Special Event On Nov. 21, 2014 Matches Its Competitors' Black Friday 2014 Prices And Includes Exclusive Deals For Samsung LED HDTVs And iPad Air 2 [WATCH VIDEO]
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Amazon Black Friday 2014 Deals Start On Nov. 21, 2014 Including Limited-Time Lightning Deals And Deals Of The Day On Clothes, Toys, Jewelry, Watches, Bags, Accessories And Electronics
- Gina Rinehart Loses Bid To Keep Family Feud Lawsuit Details Private; 2 Estranged Children Seek Millions In Mining Profit
- US Plane Flying Over Russian Skies Spotted; Vladimir Putin Ready For 'Practical Cooperation' With US
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- Nexus 6 Release Date And Price Under AT&T, T-Mobile And Sprint Listed
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Cold War 2: Russia, China And North Korea’s Blacklisted Company Fortify Alliance -- Reports