Daily News

View All News

Infosys full-year revenue up 11.5%, adds ex-White House worker as director

April 16, 2014

Information technology services firm Infosys Ltd. (NYSE: INFY) reported Tuesday that revenue rose 7.9 percent year over year in its fiscal fourth quarter ended March 31 to $2.09 billion. Infosys also announced the appointment of Carol Browner as a director in the company; Browner had served as director of the White House Office of Energy and Climate Change Policy in the Obama Administration from 2009 to 2011.

“Carol’s global expertise in environmental policy and law, including her distinguished service in the U.S. government, brings a wealth of experience to our board,” said Infosys Chairman N.R. Narayana Murthy said in a press release. “Carol’s addition will enrich the quality of debate and deliberation in our board.”

Fourth-quarter net profit was $487.0 million, up 9.7 percent from the year-ago quarter.

Full-year revenue rose 11.5 percent to a total of $8.24 billion, and full-year net income rose 1.5 percent to $1.75 billion.

“I am pleased that we have been able to double our growth rate for the full year compared to last year, though performance in the last quarter of FY 14 has been disappointing.” said CEO and Managing Director S. D. Shibulal. “We have guided for a revenue growth of 7 percent to 9 percent next year and remain firmly focused on building the growth momentum by making all the necessary investments in our business."

Shubulal is slated to retire next January.