Infosys net up 33 percent in third quarter

January 12th, 2009 BANGALORE - Allaying fears of slowdown or lay-offs, IT bellwether Infosys Technologies Ltd is still in hiring mode and plans to ramp up its headcount by this fiscal (2008-09), a senior executive said Tuesday. 'Though we have said in the beginning of this fiscal that we would hire about 25,000 people, in our estimate our hiring will go up to 27,000 by March 31, 2009,' Infosys head for HRD, education and research T.V.

January 12th, 2009 BANGALORE - A depreciating rupee has forced IT bellwether Infosys Technologies Limited to reduce its exposure to hedging in the currency market to $576 million from $932 million for the next two quarters, a senior executive said Tuesday. 'We have brought down our hedging amount in the forex market to $576 million to minimise the risk of currency rate volatility for the next two quarters (January-June) of 2009,' Infosys chief financial officer V.

January 12th, 2009 BANGALORE - Further depreciation of the Indian rupee during the third quarter (October-December) has forced Infosys Technologies Ltd. to marginally revise upwards its revenue guidance for this fiscal (2008-09) under the Indian accounting system and downwards under the new international financial reporting standards (IFRS).

October 9th, 2009 Infosys profit falls 0.9 pct but outlook improvesMUMBAI, India — Infosys Technologies Ltd. reported a slight decrease in quarterly profit Friday but raised its revenue and earnings forecasts — a signal the worst may be over for India's software services industry after being hard hit by the global downturn.

July 10th, 2009 India's Infosys says quarterly profit up 1.6 pctMUMBAI, India — Indian outsourcing bellwether Infosys Technologies Ltd. reported a slight rise in quarterly profit and warned of a steep drop in revenue as its global clients struggle to cope with the economic slowdown.

February 4th, 2009 NEW DELHI - Employees of Infosys Technologies may have to live with a salary cut and without any significant increment, even as the IT bellwether has virtually frozen fresh recruitments on account of the global meltdown, a top company official has said. 'A part of our salary is determined by variable sales component, which is the percentage of the company's revenue,' said Infosys' director for human resources T.V.

January 12th, 2009 BANGALORE - India's second largest IT bellwether Infosys Technologies Tuesday posted a net profit of Rs.16.41 billion (approx $335.5 million/Rs.1,641 crore) for the third quarter of this fiscal (2008-09), registering 33 percent year-on-year (YoY) growth and 14.6 percent sequentially as per the Indian accounting system. Under the international financial reporting standards (IFRS), the net income for the October-December quarter under review (Q3) is $330 million as against $310 million in the same period a year ago, a modest growth of 6.5 percent YoY.

January 20th, 2009 BANGALORE - Wipro Ltd has posted a net profit of Rs.10.04 billion (Rs.1,004 crore/$204 million) for the third quarter (October-December) of this fiscal (2008-09), registering 18 percent year-on-year (YoY) growth under the Indian accounting system. In regulatory filing Wednesday, the IT bellwether said its consolidated revenues for the quarter under review (Q3) was Rs.66.18 billion (Rs.6,618 crore), posting 25 percent YoY growth.

January 20th, 2009 BANGALORE - Wipro Ltd Wednesday projected $1.05 billion (Rs.51.73 billion) revenue from its global IT services for the fourth quarter (January-March) of this fiscal (2008-09). In regulatory filing to the stock exchanges, the IT bellwether said the outlook for this quarter (Q4) was based on revenue from its IT services in the third quarter (October-December) of this fiscal at $1.13 billion under the American accounting system (US GAAP).

July 29th, 2009 NEW DELHI - IT solutions provider NIIT Technologies Wednesday reported a 13.5 percent dip in its operating profit to Rs.39.4 crore for the quarter ended June 30 as against Rs.45.6 crore in the like period last fiscal. The company's consolidated revenues too dipped 11 percent to Rs.218.2 crore from Rs.245.8 crore, NIIT said in a regulatory statement.

September 15th, 2009 MYSORE - Congress President Sonia Gandhi on Tuesday attributed nation's success in the field of Information technology to the Indian talent, ingenuity and hard work. She was speaking after inaugurating the Infosys technology campus in Mysore.

March 24th, 2009 MELBOURNE - Bangalore-based software giant Infosys will pick up most of IBM Global Services' multi-million dollar applications support contract with Australian software giant Telstra, after the latter's deal with the former was scrapped following TELCO reducing its outsourcing partners from four to two. According to The Australian, the decision to shift from IBM to Infosys could result in hundreds of job losses locally and in Bangalore, where IBM operates outsourcing centres.

December 27th, 2008 NEW DELHI - Financial services, information technology, consumer goods, retail and real estate sectors have witnessed the maximum decline in the creation of new jobs because of the economic slowdown, a leading business chamber has said. The Assocham Research Bureau, which tracked job vacancy data in 30 sectors to analyse the creation of new jobs in the economy, found that the 'employment outlook of India has come under severe strain'.

May 22nd, 2009 In a recession hit period, where companies are downsizing to overcome the crisis, Indian software major Infosys plans to hire about 1,000 people in the US within a year and a half. Infosys Chief Executive, Kris Gopalakrishnan while attending Microsoft's CEO summit held in Seattle this week announced that the company is planning to add more than 100 employees as a part of a big US expansion in anticipation to the growth resuming in 2010.

January 19th, 2009 NEW DELHI - IT training major NIIT Ltd Tuesday reported a net profit of Rs.55 million for the third quarter ending December 31, a 60 percent dip compared to Rs.139 million profit in the same period a year before. The dip in profits has been attributed to the launch of NIIT Uniqua and increased depreciation due to new school projects that impacted profit after tax (PAT) for the quarter, a company statement said.