Infosys Profit Rises 21 Percent on New Deals With US Clients

Advertisement
By Agence France-Presse | Updated: 11 July 2014 11:32 IST
Indian outsourcing giant Infosys reported on Friday a better-than-expected 21 percent jump in quarterly net profit, after winning new deals from US clients.

The Nasdaq-listed firm said consolidated net profit climbed to Rs. 2,886 crore ($481 million) in April-June from Rs. 2,374 crore in the same period a year earlier.

Shares in the firm surged 4.16 percent to Rs. 3,429.35 in response to the announcement.

Advertisement

India's second largest IT services exporter by sales, which is based in the southern high-tech city of Bangalore, said it had signed 61 new clients in the quarter.

The results come after Infosys last month announced a new chief executive and said its co-founder N.R. Narayana Murthy was stepping down as executive chairman following a string of high-profile departures.

Vishal Sikka, a former top executive from German giant SAP, takes over as chief executive next month.

Murthy left after returning from retirement as executive chairman in June last year to help revive the company's fortunes.

Advertisement

Infosys created three decades ago by Murthy and six others around a kitchen table has been losing market share to rivals such as Tata Consultancy Services and HCL.

In October, it said it would pay $34 million to the US government to settle an investigation into alleged visa fraud by the company.

Advertisement

Many of India's IT outsourcing firms have reported subdued growth in recent years due to a global economic slowdown.

 

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Advertisement

Related Stories

Popular Mobile Brands
  1. These Sony Signature Series Walkman Models Launch With Premium Design
  2. Tecno Spark 50S 5G With a 6,500mAh Battery Debuts in India: See Price
  1. OpenAI AI Model Used Another Wallet’s Ethereum Testnet Funds Without Authorisation, Report Says
  2. Samsung Galaxy SmartTag 3 India Launch Timeline Confirmed by Company Executive
  3. CERT-in Issues Critical Warning After AI Agents Broke Into Indian Organisations' Live Systems
  4. Microsoft Announces $50 Xbox Nano Controller, Launch Set for Next Month
  5. Samsung Galaxy A38 5G Rear Camera Specifications Leaked; May Feature Same Sensors as Galaxy A37
  6. Meta’s Muse Spark Open Model Brings 1M-Token Context Window, Agentic AI Workflows to Apple Mac Studio
  7. Oppo Find X10 Pro Max Confirmed to Launch in India as First Phone With a Triple 200-Megapixel Camera System
  8. Ripple Partners With Cross River to Integrate RLUSD Into Core Banking Platforms
  9. Redmi K100 Officially Confirmed to Launch Later This Month; Pre-Orders Begin
  10. YouTube Music Will Now Display Labels for AI-Generated Music Integrated into the Player
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.