Infosys net up 39.23 %

IT bellwether Infosys Technologies has beaten market expectations again, reporting a 39.23 per cent quarterly profit jump on Tuesday despite conservative forecasts till early this year.

Riding recent recoveries in US markets the software and service giant posted a net profit of Rs 388.34 crore in the first quarter of 2004-05. It added 19 new clients to its 400 existing clients in the first quarter this year. A 5 per cent fall in rupee value and uncertainties surrounding the US elections had fuelled the company into giving conservative estimates.

‘‘At the beginning of the quarter, we were worried about the rupee dip and the outsourcing debate, but both these have come down,’’ Infosys COO Kris Gopalakrishnan said on Tuesday.