Sluggish global business hits Infy

This is the first time Infosys reported lower net profit on a Year on Year (Y-o-Y) basis.
The December quarter profit was, however, 2.7 per cent higher over the September 2009 quarter.

Total income of the company in the December quarter at Rs 5,741 crore from software services, products and business process managment was almost flat when compared with the same quarter last year.
Infosys and its subsidiaries added 8,719 employees (gross) and the net addition during the quarter was 4,429.

Going forward Infosys, projected an average revenue guidance in the range of  Rs 5,675 crore to Rs 5,721 crore for the March 2010 quarter which will be a marginal growth of  0.7 per cent to 1.5 per cent YoY.

 In the December quarter Infosys added 32 new clients and the contribution to revenues from top ten clients grew by 12 per cent during the quarter.
The number of  million dollar clients' for Infy increased sequentially to 787 at the end of December quarter, from 776 in the previous quarter, the company said.
During the quarter the software exporter received repeat business orders from 97 per cent of its clients.