Infosys Profit Jumps 29 Pct But Warns Of Slowdown
NEW DELHI (AP) India's Infosys Technologies Ltd. said fourth quarter profit jumped 29 percent but warned revenue growth will slow sharply this year as customers hit by the global recession demand lower prices for information technology services.
Infosys earned 16.1 billion rupees, ($322 million) in net profit for the three months ended March 31, up from 12.5 billion rupees a year earlier, it said in a statement Wednesday.
But the company scaled back expectations for 2009 due to the global economic slowdown. Infosys said it expected revenue to grow between 1.7 percent and 5.7 percent in the current fiscal year compared with 30 percent in the just ended year. Revenue in U.S. dollar terms was forecast to fall between 3.1 percent and 6.7 percent. ...
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