BANGALORE, April 10: Infosys Technologies Ltd has reported a 79 per cent growth in net profit for the year ending March 31. The company's net stood at Rs 60.36 crore compared to Rs 33.68 crore in the previous year. During the same period the total income saw a rise of 81 per cent to Rs 260.37 crore from Rs 143.81 crore earlier. The company, however, sounded a note of caution while declaring its results. Infosys chairman and managing director N R Narayana Murthy expressed the view that the revenue growth for the next year may not keep pace with the previous years as the company is planning an overseas expansion.The board of directors of the company which met here on Friday recommended a final dividend of Rs 4.50 per share (45 per cent pro rata) for the year. It had earlier paid an interim dividend of Rs 1.50 per share (15 per cent). The total dividend for the year under review is Rs 6.00 per share or (60 per cent) while it was 55 and 50 per cent in the previous years. The dividend tax on the company standsat Rs 70.29 lakh against Rs 29.03 lakh earlier.
Revenue from exports grew to Rs 250.94 crore from Rs 125.28 crore, recording a 100 per cent growth. The earnings per share for the year was Rs 37.69 against Rs 21.02.
Commenting on the company's performance, Narayana Murthy said ``our growth is mainly driven by our focus on the offshore software development models coupled with branding some of our services''. According to Nandan M Nilekani, deputy managing director, ``Over 70% of our business comes from existing customers.'' ``While the US market continues to contribute significantly to our revenues, efforts are being made to increase the business in Europe and Asian markets,'' he added.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
