Infosys revises FY10 revenue estimates, Q2 net up 7.5%

BANGALORE: In a sign of things to come for India’s $60-billion outsourcing sector, the country’s second biggest software services exporter,

Infosys Technologies, revised its full-year revenue guidance upwards and also managed to maintain its profit margins, helped by currency fluctuations and increased demand for offshore outsourcing from banking customers.

Infosys said its net profit for the quarter ended September 30, 2009, rose 7.5% year-on-year to Rs 1,540 crore and revenues grew 3% to Rs 5,418 crore. The company reported a sequential growth of 2.1% in revenues and 0.9% in net earnings.

“In the second quarter, the business climate has improved,” Infosys chief executive and managing director S Gopalakrishnan said on Friday. “Clients are now looking to invest in a few strategic initiatives and relationships to maximise value from opportunities when the economic downturn ends.”

Infosys revised its revenue guidance for the full fiscal, projecting to touch in the range of Rs 21,961-22,055 crore against Rs 21,416-21,747 crore provided at the end of the first quarter.