Fiscal fourth-quarter revenues spiked 46% to $863 million. The company added 34 customers in the quarter, bringing its total client count to roughly 500. That group includes major players like Goldman Sachs
It's not all smooth sailing for Infosys: The value of the rupee continues to strengthen, and India faces 12% to 15% inflation in wage rates. Nonetheless, Infosys posted a 70% increase in net income, to $259 million, in the fiscal fourth quarter. It's helped to preserve those earnings by moving its campuses outside major cities like Mumbai and Delhi. In these new locations, wage inflation is more moderate, and workers change jobs less frequently.
If the conference call is any indication, customer demand for Infosys remains brisk. Going forward, the company expects revenue growth of 28% to 30% in fiscal 2008, accompanied by earnings growth of 25.7% to 27.7%. Fools should further remember that the company has a history of overly conservative estimates.
As at other Indian IT giants like Wipro