Source:www.allheadlinenews.com

India’s outsourcing companies are on a roll, with Infosys Technologies Ltd. posting $1 billion in revenue for the quarter ending September.

Profits at the outsourcing giant grew by 36 percent to $271 million during the quarter. Annual revenue will grow by up to 35 percent, reaching $4.16 billion to $4.17 billion for the fiscal year ending March 31, 2008.

Infosys provides consulting and information technology services. It has over 80,000 employees worldwide and was recently applauded by Wired magazine for its unique offshore outsourcing strategy, bringing jobs back to the US.

For mid-size outsourcing company iGate Global Solutions Ltd., profits for the quarter grew $5.75 million.

All these amid fears that a stronger Indian rupee might hurt profits. The rupee has appreciated by about 12 percent against the dollar since January. Paid in American dollars, Indian companies pay employees in India in rupees.

The US, India’s largest outsourcing market, accounts for about 66 percent of export revenue.

To counter the rupee’s growing strength, both Infosys and iGate negotiated better prices from customers and increased hiring from universities instead of from the industry, Amitabh Das, chief executive officer of Vati Consulting Pvt. Ltd., a recruitment firm in Bangalore, told PC World.