Infosys has reported a 28 per cent increase in net at Rs 278.12 crore (Rs 2.78 billion) for the quarter ended June 30, 2003 when compared with Rs 216.85 crore (Rs 2.168 billion) in Q1FY03.

Total income has increased 41 per cent to Rs 1,114.42 crore (Rs 11.42 billion) from Rs 789.52 crore (Rs 7.89 billion).

Infosys has projected income from development services and products between Rs 1,086-1095 crore (Rs 10.86-10.95 billion) for the second quarter ending September 30, 2003.

Earnings per share is likely to come in between Rs 42-42.10, according to a release issued by the company to the Bombay Stock Exchange on Thursday.

Giving the full-year projections, the company is expecting an income between Rs 4,420-4,483 crore (Rs 44.20-44.83 billion) and EPS between Rs 162.80-168.50, the release added.

The release quoted Nandan M Nilekani, CEO, president and managing director, as saying: "There is an increased interest in offshore outsourcing as global corporations realise its benefits. Business opportunities continue to grow. The pricing environment, however, remains challenging."