Infosys Q1 net falls 2.4%, raises annual outlook

Infosys Technologies Ltd reported a surprise 2.6 per cent drop in quarterly profit but raised its full-year revenue forecast on hopes of strong outsourcing demand from overseas clients.

India’s No. 2 outsourcer, a trendsetter in the country’s showpiece software services sector, added 1,026 new staff in April-June, its slowest pace of addition in four quarters, sending its shares 2 per cent lower.

The company, which counts Goldman Sachs, BT Group and BP among its more than 550 customers, forecast its 2010/11 dollar revenue to rise 19 per cent to 21 per cent, higher than 16-18 per cent projected in April.

Infosys, known for its conservative outlook, has raised its full-year revenue growth forecast in dollar terms in the last three consecutive quarters.

The company expects earnings per American depositary share to rise 5.2 per cent to 9.6 per cent for the year, up from its previous forecast of 4.3 per cent to 8.6 per cent.

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