Infosys Technologies registered an 18.6 per cent growth in net profit at Rs 957.93 crore in 2002-03. Its revenue grew 39.1 per cent at Rs 3,622. 69 crore.
Although the growth in revenue has beaten the company's projections handsomely, the rise in profit has just about met them.
Net profit increased 23.14 per cent at Rs 259 crore in January-March 2003 from the same period in 2002. However, it rose 1.05 per cent from the third quarter of 2002-03.
Prices were under pressure during the quarter. The revenue growth of 7.7 per cent in dollar terms was made up of a 12.8 per cent growth in volume and a 5.1 per cent fall in prices.
Profits were under pressure throughout the year, with growth falling from 30 per cent in the first quarter to less than 25 per cent in the last.
Nandan Nilekani, managing director and CEO of Infosys, described 2003-04 as a
