Consolidated net profit for the three months to June 30, its financial first quarter, rose to 50.58 billion indian rupees ($840.5 million) from 39.87 billion rupees a year ago, the Mumbai-based company said on Thursday.
Not only has the gap between Infosys and the market leader Tata Consultancy Services increased in recent quarters, even Cognizant has overtaken Infosys.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
The software body, which represents the $100 billion Indian IT-BPO industry, has also appointed MindTree CEO Krishnakumar Natarajan as the vice chairman of the executive council.
Infosys would take over the programme from its rival Tata Consultancy Services.
It also gave an upbeat growth outlook, sending its shares up the most in more than eight months.
IT firms across the board say engineering graduates this year are readily accepting job offers unlike in the past years, when they were far more choosy.
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
Infy's cash utilisation may play role in whether valuation gap too narrows
The company has been able to help clients to transform their business and beat cost during the slowdown.
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
In the quarter ended June 30, the company posted 15.7 per cent growth in net profit at Rs 3,831 crore (Rs 38.31 billion) when compared with the corresponding quarter last year. Revenue rose 21 per cent to Rs 17,987 crore (Rs 179.87 billion).
The group's major investments in Bengal are from Tata Metaliks, Tata Consultancy Services, Indian Hotels and Tata Hitachi.
The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.
India's Rs 6 lakh crore-plus information technology (IT) industry is back on its high-growth path - led by Tata Consultancy Services (TCS), which is ahead of other large firms in top-line numbers for the second quarter.
The IT co has over 2,500 employees catering to a strong client base in the country
TCS posts one of the highest volume growth and best margin performance.
Market experts believe TCS to post better quarterly earnings vis-a-vis Infosys.
TCS will manage 'Question Creation Wizard' to frame question papers unique to each candidate with the same level of difficulty.
The company's revenue rose 29.87 per cent to Rs 81,809 crore.
With a market cap of $60 billion, exceeds Accenture and HP but trails IBM
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
Besides Florida and Louisiana, the Houston Consulate provides service to Indian community and businesses in Alabama, Arkansas, Georgia, Kansas, Mississippi, Oklahoma and Texas states.
With high inflation and low growth plaguing the economy, the results' season has turned important.
Company has agreed to pay Rs 160 cr to settle a lawsuit filed by two former employees over unpaid wages.
Volume growth and performance of the banking, financial services and insurance (BFSI) division will be a key aspect as the Indian information technology services sector draws closer to announce its first quarter results for 2012-13.
"We are seeing an uptick. There is a lot more clarity and certainty about projects and decision cycles. I'm quite positive and companies are wanting to adopt technologies and are making decisions," TCS chief executive officer and managing director N Chandrasekaran said on the sidelines of World Economic Forum on India in Gurgaon.
The 50-issue index regained the 7,800-level for the second time this month by surging 41.35 points, or 0.53 per cent, to trade at an all-time high of 7,809.20, surpassing its previous intra-day high of 7,808.85 touched on July 8.
It also retained its position among the 'Big 4' most valuable IT services brand worldwide -- in the ranking carried out by Brand Finance, the world leading brand valuation firm.
The settlement is subject to fairness review and approval by the court.
The complaint was filed by non-US employees Gopi Vedachalam and Kangana Beri, who were sent from India to the US to work on projects.
The facility will cater to govt services that require Inpact Level 3 security.
There are some companies that provide just about everything.
TCS is said to have bagged a multi-million pound contract to support the disclosure and barring services for the Criminal Records Bureau of the UK.
TCS, HDFC Bank, Infosys and Kotak Mahindra Bank were the other firms in the top-10 list which witnessed a rise in their market capitalisation. On the other hand, HUL, HDFC, Bharti Airtel, ITC and ICICI Bank finished with losses.
TCS has got a special recognition for its initiative to the lift of one million people in the inner part of India, by reaching out to the educated among the backward community and training them as well as making them economically-active through employment, TCS' Singapore-based President Vish Iyer told PTI on Monday.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
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