Infosys Technologies Ltd., India's bellwether information technology outsourcing company, said Tuesday that quarterly profit rose 8.7 percent in dollar terms as business from European and manufacturing clients picked up.
Net profit for the January-March quarter was 16.0 billion rupees ($349 million), or 0.61 cents per American Depository Share. It was a 4.5 percent increase in dollar terms over the previous quarter.
Revenues were 59.4 billion rupees ($1.3 billion), up 15.6 percent from a year ago and up 5.2 percent from the prior quarter in dollar terms.
Both measures beat analyst expectations in dollar terms.
"Though the economic environment continues to be challenging, businesses are investing in growth for building a better future," chief executive S. Gopalakrishnan said in a statement.
The company, known for its conservative guidance, said it expects earnings per American Depositary Share for the fiscal year ending March 2011 to be $2.40 to $2.50, growth of 4.3 percent to 8.6 percent.