Registering a whopping 96.92 per cent rise, the company has clocked a total income of Rs 512.74 crore during the fiscal ended March 31, 1999 against Rs 260.37 crore registered during the corresponding period of the previous fiscal.

Bucking the industry trend, Infosys' total income during the three months period ended March 31, 1999, has increased 93.79 per cent to Rs 153.70 crore (Rs 79.31 crore). The company reported a net profit of Rs 43.10 crore (Rs 19.09 crore), a growth of 125.77 per cent during the period.

Its income from software exports stood at Rs 500.25 crore during the last fiscal against Rs 250.94 crore achieved for 1997-98. In addition to this, Infosys has also posted an income of Rs 8.64 crore (Rs 6.72 crore) from its domestic operations. Total expenditure during the period stood at Rs307.27 crore (Rs 171.75 crore).

The audited results have been taken on record by the board at its meeting held on April 9. A final dividend of Rs 5 per share (50 per cent on an equity share of par value Rs 10) pro rata has been recomended by the company, according to a release.

For the current quarter, fluctuations in exchange rates have led to an increase in total income of Rs 9.36 crore and profit before tax of Rs 4.40 crore. For the fiscal year, such fluctuations led to a rise in total income of Rs 31.73 crore and before tax of Rs 13.72 crore.

During the year, the company sold a part of its holding of convertible preferred stock in its subsidiary Yantra Corporation of the US, resulting in an extraordinary income of Rs 2.35 crore. Infosys has also made a Rs 7.06 crore provision for its investment in the corporation.

The software major has instituted a contingency plan to meet any possible disruption in customer support due to the Y2K impact on the technology and communication infrastructure providedto the company by its vendors. The company has made a provision of Rs 3.33 crore and Rs 6.66 crore for the quarter and fiscal year ended March 31, 1999.

During the quarter, the paid-up capital of Infosys increased by Rs 17.06 crore on account of issue of 1:1 bonus shares, amounting to Rs 16.02 crore and Rs 1.04 crore issued under the American Depository Shares programme.