Global economic slowdown and the consequent pricing pressure pulled down the net profit of Infosys Technologies marginally by 1.71 per cent to Rs 1,613 crore for the March quarter, over the corresponding period last year.
Global economic slowdown and the consequent pricing pressure pulled down the net profit of Infosys Technologies marginally by 1.71 per cent to Rs 1,613 crore for the March quarter, over the corresponding period last year.
It had recorded a net profit of Rs 1,641 crore in the same quarter last fiscal, Infosys said in a filing to the National Stock Exchange.
During the fourth quarter (January-March), the revenue in rupee terms of the country's second largest software exporter declined 2.61 per cent to Rs 5,635 crore, from Rs 5,786 crore in the same period in FY08.
"The pricing environment continues to be challenging... many of our clients are impacted by the financial crisis and are looking to us to help them reduce their expenses and optimise their businesses," Infosys CEO and Managing Director S Gopalakrishnan said.
For the financial year ended March 2009, the board has declared a final dividend of Rs 13.50 a piece, on every share of Rs five each.
In the financial year 2009, Infosys Technologies reported a 28.53 percent growth in consolidated net profit at Rs 5,988 crore. The IT firm had a net profit of Rs 4,659 crore in FY08.
"We improved our operating margins during fiscal 2009 despite a very difficult global economic environment combined with highly volatile currency markets," Infosys Chief Financial Officer V Balakrishnan said.
Sales for FY09 rose nearly 30 per cent to Rs 21,693 crore at the end of March 31, from Rs 16,692 crore in FY08.
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