Infosys posts $1bn revenues

Infosys posts $1bn revenues

Services supplier boosts forecasts in response to results

IT services supplier Infosys has seen its revenue climb $1.02bn (£500m) during the second quarter of 2007, representing year-on-year growth of 37 per cent.

The Indian company gained 48 clients and added a net of 4530 new employees during the three months ending on September 30.

The strong figures have led Infosys to boost its forecasts for future results.

The company now predicts revenues of between $1,073m (£526m) and $1,078m (£528m) for the current quarter - year-on-year growth of 30.7 to 31.3 per cent.

Total revenue for the fiscal year ending March 30 2008 is now expected to reach up to $4.17bn (£2.04bn), a rise of 35 per cent on results from earlier this year.

“We have achieved yet another milestone by crossing one billion dollars in revenues this quarter,” said chief executive S Gopalakrishnan.

“In an increasingly flat world, our unique business model combined with our value proposition continues to help our clients grow profitably.”