MUMBAI: Indian outsourcing giant Infosys reported Friday a better-than-expected 21.4 percent jump in quarterly net profit, led by improved demand from Europe and the United States.
The company also hiked its full-year revenue outlook, driving up its shares by around two percent.
Consolidated net profit for the Nasdaq-listed firm climbed to 28.75 billion rupees ($463 million) in the October-to-December quarter from 23.69 billion rupees in the same period a year earlier.
Analysts had expected Infosys to report a net profit of 27 billion rupees.
Revenues jumped 25 percent to 130.26 billion rupees in the third financial quarter from 104.24 billion rupees in the year-ago period.
The company's results kicked off India's quarterly earnings season.
It forecast revenues would increase by 11.5 to 12 percent in dollar terms for the fiscal year to March 2014 -- a notch above its earlier outlook of 9.0-10.0 percent growth.
"The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives," said Infosys's chief executive S.D. Shibulal.
Bangalore-based Infosys been undergoing major changes with a string of departures by some of its senior staff since co-founder and business icon N.R. Narayana Murthy returned in a bid to reboot the company's fortunes last June.
Infosys -- created three decades ago by Murthy and six others as they sat around a kitchen table -- has been losing market share to rivals such as Tata Consultancy Services and HCL.
Last October, Infosys said it would pay $34 million to the US government to settle an investigation into alleged visa fraud by the company.
Many of India's IT outsourcing firms have reported subdued growth in recent years due to a sharp global economic slowdown.
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