BANGALORE, INDIA: Infosys Technologies posted net proft of Rs 1302 crore for the quarter ended June 30, 2008 with year-on-year growth of 20.7 per cent. Total revenues for the same period was at Rs 4854 crore for the first quarter of 2008-09, ended June 30, 2008 with an annual growth of 28.7 per cent.

Earnings per share was increased from Rs 18.89 in the corresponding quarter in the previous year to Rs 22.75 in the first quarter showing a growth of 20.4 per cent.

"Altough the global economic environment continues toremain uncertain and could impact IT spending in the short term, we see several opportunities for growth as customers relentlessly focus on improving efficiency," said S Gopalakrishnan, CEO and Managing Director.

Giving out the business outlook for the next quarter and the fiscal, the company said that it expects total income to be in the range of Rs 5229 crore and Rs 5272 crore with yearly growth of 27.4 percent-28.4 per cent.

Earnings per share is expected to be in the range of Rs 23.52 and 23.95.

For the fiscal 2008-09, the company said that it expects its income to be in the range of Rs 21,278 crore and Rs 21,622 crore and Earnings per share are expected to be between Rs 99.34 and 101.06.

Speaking on the margins, V Balakrishnan, CFO, said, "Margins for the quarter were impacted due to increases in salary and visa costs which to some extent wereoffset by rupee depreciation. We believe that the currency market will remain volatile in the short term."