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No billing pressure, says Infosys

Indian software services leader Infosys Technologies Ltd has not faced any pressure from existing clients on billing rates following a slowdown in the US economy, its finance chief was quoted on Friday as saying.

"As of today, Infosys has not faced any pressure from existing clients to reduce billing rates," chief financial officer Mohandas Pai said in an interview published in Business Standard newspaper.

The Nasdaq-listed Infosys, rattled markets last April when it warned that its revenue would grow by just 30 per cent in 2001-02 (April-March), down from an average of 90 per cent in the past four years.

It later told US regulators that raising billing rates would be a 'challenge in the current environment'.

Infosys caters to high-flying global clients like Cisco Systems Inc and Nortel Networks Corp. About 74 per cent of Infosys' revenues came from North America in the past financial year.

Infosys is India's second largest software exporter and will announce its first quarter results for 2001-02 on July 10.

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