Indian outsourcer Infosys posts 19% increase in sales

Indian outsourcer Infosys...

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Indian outsourcer Infosys has posted a 19% year-on-year increase in sales for the second quarter ended 30 September.

Second quarter revenues reached £715m. Earnings per share rose 16.7% year-on-year to 32p. The firm trades on the Nasdaq.

The firm said it added 40 clients to its portfolio during the quarter, along with a net increase of almost 6,000 employees.

S Gopalakrishnan, CEO of Infosys, said, "The challenging economic environment provides interesting opportunities for transformational service providers like us."

V Balakrishnan, chief financial officer, said, "We benefited from the depreciation of the rupee against the US dollar during the quarter, which was partially offset by the sharp appreciation of the US dollar against all other major currencies.

"Our liquidity position continues to be strong with cash and cash equivalents reaching £1.1bn."

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