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Bangalore-based IT services giant Infosys Technologies Ltd, on July 13, announced that it has posted a net profit of Rs 394.47 crore (Rs 3.944 billion) for the quarter ended June 30, 2004 as compared to Rs 278.12 crore (Rs 2.781 billion) for the first quarter ended June 30, 2003.

The company's total income increased from Rs 1,114. 42 crore (Rs 11.144 billion) in the Q1 2003 to Rs 1,489.38 crore (Rs 14.893 billion) in the quarter ended June 30, 2004.

"We have seen strong revenue growth during the quarter," said Nandan M Nilekani, CEO, President and Managing Director. "Our robust and scaleable business model, along with our track record for superior execution, has enabled us to respond quickly to enhanced business opportunities in the market place."

India's second largest IT company said that it had added 29 new clients and 2,305 employees during the quarter. Infosys' employee strength currently stands at 27,939 employees.

Infosys expects revenue to grow 39 per cent to 40 per cent in fiscal 2005.

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