Infosys earnings soar 10 per cent

Infosys, India’s second largest software services exporter, yesterday reported a rise in quarterly profit of almost 10 per cent. It also cut its full-year sales outlook by less than expected, easing investor worries of a sharp slowdown in the outsourcing sector. Kicking off results for India’s £48bn IT sector, Infosys shares ended seven per cent higher yesterday to their strongest level in more than two months, outperforming a 2.5 per cent rise in the broader Mumbai market.