Infosys Technologies Limited reported this week a 33 percent revenue increase for its fiscal year, becoming the first publicly listed Indian technology company to break a billion dollars in revenue.
Infosys, India's second largest software company, said revenue for the year ended 31 March were US$1.06 billion, driven largely by customer demand for sending information technology work to low-wage countries. Net profit for the period increased 30 percent to US$270 million.
'Our universe of Fortune 1000 clients has expanded, with three clients providing revenues of US$50 million each,' Basab Pradhan, senior vice president and head of worldwide sales for Infosys, said in a statement.
'There is a strong desire among large corporations worldwide to leverage the offshore model. Our solutions and alliance strategy have evoked deep interest from our clients.'
For the fourth quarter, revenue increased 40.1 percent to US$302.7 million from US$216 million for the same period a year ago. Net income was US$76.8 million, or 58 US cents a share, compared to US$53.1 million, or 40 US cents a share.
The company added 38 new clients in the quarter, and hired 2,849 workers. Infosys and its subsidiaries employed 25,634 people as of 31 March.
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