Infosys Q1 net up 3.7 pc, 'more aggressive' in chasing growth

India's second-largest software exporter Infosys today posted 3.7 per cent rise in June quarter net profit and said it is more aggressive in market after return of founding chairman NR Narayana Murthy.
The company kept its dollar revenue growth for the fiscal unchanged at 6-10 per cent levels predicted in April. But revenue growth forecast lagged 12-14 per cent outlook for the sector made by industry body Nasscom.
Infosys, which has been struggling against rivals like Tata Consultancy and HCL Technologies, after it changed focus to proprietary software at expense of IT outsourcing contracts, wants to return to aggressively chasing deals to regain lost market share.

Infosys net profit rose 3.7 per cent to Rs 2,374 crore in April-June from Rs 2,289 crore a year earlier, as the rupee's fall to a record boosted the value of its overseas sales.
"We are definitely more aggressive in going after growth," company chief executive S D Shibulal said. "We are definitely making progress in our efforts to win large IT outsourcing deals."
Sales climbed to Rs 11,267 crore from Rs 9,616 crore after the software-services provider won seven contracts worth between USD 50 and 100 million.

"Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, we have done well," he said. The company is "cautiously optimistic" about the rest of the year, he said.

Shibulal said growth has been quite broad-based, with major contribution from North America (supported by Loadstone acquisition), Retail & Consumer Packaged Goods and manufacturing in higher percentage.
"Given the regulatory challenges we are faced with- like US immigration bill, changes in law in Canada and regulatory changes in Australia we have kept our guidance at 6-10 per cent, we remain cautiously optimistic," Shibulal said.