Infosys Technologies has reported a 29% year-on-year increase in its Q4 net profit on improved operating margins, but forecast a decline in its revenue and earnings as many of its clients have been hit by the global financial crisis.
Net profit after tax (PAT) surged to Rs1,613 crore in the recently concluded quarter, up 29.1 per cent from the year-ago period. The revenue rose 24.1 per cent to Rs5,635 crore on year-on-year basis.
Net profit after tax (PAT) surged to Rs1,613 crore in the recently concluded quarter, up 29.1 per cent from the year-ago period. The revenue rose 24.1 per cent to Rs5,635 crore on year-on-year basis.
The cash and cash equivalents, including investments in liquid mutual funds and certificate of deposits, as on March 31, 2009 were Rs 10,993 crore," a company statement said.
Infosys HR head, Mr. Mohandas Pai also told that there wont be any increments or promotions for this fiscal year. Also, there wont be any layoffs apart from poor performers who will be outplaced. Earlier in the year the IT behemoth laid off 2100 employees. Mohandas Pai also said that all campus offerings of about 20,000 will be honoured.
