This excerpt taken from the INFY 6-K filed Jan 18, 2005.
We have seen another quarter of robust growth, said Nandan M. Nilekani, CEO, President and Managing Director. Infoscions have shown great energy and enthusiasm for all our new initiatives.
Our focus on creating synergies through Infosys Consulting and Progeon at either end of the services chain has enhanced our competitiveness, said S. Gopalakrishnan, Member of the Board and COO.
Large corporations in the Insurance and Healthcare industries are increasingly using the Infosys-pioneered Global Delivery Model to improve efficiency and customer focus. Infosys is working with a premier US-based wellness company and a provider of tools, applications and healthcare content to analyze, design and implement new systems that strengthen their internal processes. In a mission-critical assignment, the most distinguished preferred provider organization (PPO) network in the US selected Infosys to rewrite its core system. For one of the largest insurance companies in the US, Infosys developed an enterprise-wide road map for content management strategy.
Infosys business solutions continued to enhance competitiveness for clients in the Retail industry. A US supermarket giant used Infosys services to address process improvement initiatives and program management issues. Infosys also completed a large end-to-end business process re-engineering initiative
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for a leading corporation in the food distribution business. A premier apparel marketer in the US partnered with Infosys for a business consulting engagement.
Demand for offshore outsourcing continued to be strong, said Basab Pradhan, Head World-wide Sales and Senior Vice President. Clients have responded favorably to the combination of our consulting services and offshore delivery.
Our growth has been well supported by our relentless pursuit of excellence, not only in our core client delivery processes but also in all the business enabling areas, said S. D. Shibulal, Member of the Board and Head World-wide Customer Delivery
Cash and cash equivalents and investments in liquid mutual funds, increased by $ 88 million during the quarter, from $ 545 million to $ 633 million, after incurring capital expenditure of $ 58 million.
We have been able to maintain our operating margins despite the appreciation of the rupee, said T. V. Mohandas Pai, Member of the Board and Chief Financial Officer.