Bangalore: Software major Infosys Technologies on April 10 announced that it has met its 30 per cent revenue target for the fiscal ended March 31, 2002, and projected a "challenging" outlook for the next 12 months.

Infosys, announcing the quarterly results, said income from software development services and products was Rs 2,603.59 crore for the year as compared to Rs 1,900.56 crore, a 37 per cent rise.

For the fourth quarter ended March 31, 2002, the company's income was Rs 680.13 crore, a 21 per cent increase over the comparable income of the corresponding quarter in the previous year.

It projected income from the software development services and products for the quarter ending June 30, 2002 to be between Rs 684 crore and Rs 694 crore.

Infosys said its operating profit for the fourth quarter was Rs 270.74 crore as against Rs 233.32 crore for the quarter ended March 31, 2001, showing a modest 16.04 per cent rise.

For the year ended March 31, 2002, the operating profit was Rs 1,037.63 crore, a 35.67 per cent jump over the previous fiscal.

"Last year was difficult for both Infosys and the Indian software industry," Nandan M Nilekani, CEO, president and managing director of Infosys, said.

Nilekani also admitted that the "pricing pressures" continued and added, "We believe that the outlook for the next 12 months will continue to be challenging."

PTI