By Aradhana Aravindan
BANGALORE, July 12 (Reuters) - Infosys Ltd,
India's second-largest software services exporter, matched
expectations with a 33 percent rise in its fiscal first-quarter
profit, bolstered by a surge in demand for outsourcing services
and a fall in the rupee.
India's $100 billion-a-year IT and back-office outsourcing
sector earns about three-quarters of its revenues from customers
in the United States and Europe, and faces intense competition
from global rivals including IBM and Accenture.
Net profit for Infosys, whose customers include Bank of
America, BT Group and GlaxoSmithKline Plc
, rose to 22.89 billion rupees ($413 million) in the
quarter ended June from 17.2 billion rupees a year earlier.
Analysts had forecast a net profit of 23 billion rupees for
the Bangalore-based company, according to Thomson Reuters data.
Infosys and its domestic rivals Tata Consultancy Services
and Wipro are part of the country's
export-driven outsourcing sector that has benefited from
increase in demand for outsourcing to cut costs and boost
But prevailing global economic uncertainty, cutthroat
competition for a bigger share of the outsourcing business and
sharp currency fluctuations have slowed the showpiece sector's
pace of growth.