Infosys Technologies announces revenue growth of 46% in fiscal 2007

Bangalore, India - April 13, 2007

Infosys Technologies Ltd has announced the Audited results for the quarter & year ended March 31, 2007. The Company has posted a net profit after tax & exceptional items of Rs 11240 million for the quarter ended March 31, 2007 as compared to Rs 6640 million for the quarter ended March 31, 2006. Total Income has increased from Rs 25630 million for the quarter ended March 31, 2006 to Rs 36750 million for the quarter ended March 31, 2007.

The Company has posted a net profit after tax & exceptional items of Rs 37830 million for the year ended March 31, 2007 as compared to Rs 24210 million for the year ended March 31, 2006. Total Income has increased from Rs 91720 million for the year ended March 31, 2006 to Rs 135240 million for the year ended March 31, 2007.

The Group has posted a consolidated net profit after tax, exceptional items & minority interest of Rs 11440 million for the quarter ended March 31, 2007 as compared to Rs 6730 million for the quarter ended March 31, 2006. Total Income has increased from Rs 26960 million for the quarter ended March 31, 2006 to Rs 38910 million for the quarter ended March 31, 2007.

The Group has posted a consolidated net profit after tax, exceptional items & minority interest of Rs 38560 million for the year ended March 31, 2007 as compared to Rs 24580 million for the year ended March 31, 2006. Total Income has increased from Rs 96600 million for the year ended March 31, 2006 to Rs 142650 million for the year ended March 31, 2007.

Highlights

Consolidated results for the quarter ended March 31, 2007
- Income was Rs. 3,772 crore for the quarter ended March 31, 2007; YoY growth was 43.8%
- Net profit after tax* was Rs. 1,144 crore for the quarter ended March 31, 2007; YoY growth was 70.0%
- Earnings per share* increased to Rs. 20.30 from Rs. 12.23 for the corresponding quarter in the previous year; YoY growth was 65.9%

Consolidated results for the year ended March 31, 2007

- Income was Rs. 13,893 crore for the year ended March 31, 2007; YoY growth was 45.9%
- Net profit after tax* before exceptional item was Rs. 3,850 crore for the year ended March 31, 2007; YoY growth was 56.6%
- Earnings per share* before exceptional item increased to Rs. 69.11 from Rs. 45.03 in the previous year; YoY growth was 53.5%

* The net profit for the quarter and year ended March 31, 2007 includes a reversal of tax provisions amounting to Rs. 124 crore and Rs. 125 crore respectively. Excluding this reversal, the earnings per share for the quarter and year ended March 31, 2007 would have been Rs. 18.10 and Rs. 66.86 resulting in a YoY growth of 48.0% and 48.5% respectively.

Others

- 34 new clients were added during the quarter by Infosys and its subsidiaries
- Gross addition of 5,992 employees (net 2,809) for the quarter and 30,946 employees (net 19,526) for the year by Infosys and its subsidiaries
- 72,241 employees as on March 31, 2007 for Infosys and its subsidiaries
- The Board of Directors recommended a final dividend of Rs. 6.50 per share (130% on par value of Rs. 5 per share) for fiscal 2007

"Our revenues grew by around US$ 1 billion this year," said Nandan M. Nilekani, CEO and Managing Director. "The global IT services industry continues to show strong growth with exciting opportunities, and Infosys is well positioned to take advantage of this."

Source : Equity Bulls

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