Infosys earnings jump 70 per cent

BANGALORE: Software giant Infosys posted a higher-than-expected 70 per cent jump in its fiscal fourth-quarter net income as it signed up more clients overseas and tapped new businesses.

The Bangalore-based company's profit rose to 11.4 billion rupees ($266.5 million) in the three months ended March 31, from 6.73 billion rupees a year earlier.

Sales increased 43.8 percent to 37.7 billion rupees.

"The global IT services industry continues to show strong growth with exciting opportunities and Infosys is well positioned to take advantage of this," Chief Executive Officer Nandan Nilekani said in a statement.

Infosys, India's second-biggest maker of computer software and a pioneer of the outsourcing boom, signed up 34 new clients during the quarter, including those in the retail industry, aerospace and oilfield services.

This helped offset a rise in the value of the rupee that dents overseas earnings as well as salary increases.

For the 12 months ended March 31, the company's net income jumped 56.6 per cent to 38.5 billion rupees, on sales growth of 45.9 per cent to 138.9 billion rupees.