Indian outsourcer doubles profits

News

Indian outsourcer doubles profits

Antony Savvas

Infosys, the number two Indian IT outsourcer, has reported a 50% increase in quarterly profits. Net profits for the three months up to the end of June jumped to £94m.

In addition to the higher profits, the company added 38 new outsourcing clients and 5,700 extra staff during the three-month period.

The US outsourcing market made up around 65% of the firm’s sales. A recent report by a US management consultancy said, however, that 8% of US companies were now planning to place less of their IT to offshore outsourcers like Infosys.

Infosys also has operations in the US and Europe, but the same report said that 9% of US companies were also reducing their onshore outsourcing and in some cases taking back their IT for internal departments to run.

The report stressed, however, that the overall outsourcing market was still expanding, but at a slower pace.

Infosys competes against number one Indian outsourcer Tata Consultancy Services, Wipro, and other companies based on the Indian sub-continent.


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