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APNEW DELHI — India's Infosys Technologies Ltd. said quarterly net profit jumped 70.4 per cent from a year ago on sustained momentum in outsourcing and predicted on Friday that revenue would grow as much as 30 per cent this year.
Bangalore-based Infosys said net profit rose to $259-million (U.S.) in the January-March quarter compared with $152-million in the same period a year ago. Profit for the latest quarter included a tax refund of about $29-million, it said.
Revenues rose 46 per cent to $863-million during the quarter, taking annual revenues in the financial year ended March to $3.1-billion. Infosys' financial year runs from April through March.
The earnings numbers, which conform to U.S. accounting standards, beat analysts' expectations and lifted Infosys shares by 2.9 per cent in intraday trading on the Bombay Stock Exchange.
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