Exports to North America contributed 82% to the total income of India’s fastest growing IT firm, Infosys Ltd. 9% of the income is from Europe, with an unchanged 8% from the rest of the world. Total income from India fell to 1% from 3%. Software services contributed 97% to the total income; banking and related products, 2%; and 1% came from treasury income. The firm reported a total income of $33m for the quarter ended December 31, 1998 – a growth of 91% over $17.2m in the corresponding period last year. Meanwhile, Infosys has reduced its stake to 47.03% in its loss-making US subsidiary, Yantra Corp. The firm has dis invested 1.36 million convertible shares from its 68% stockholding, in favor of venture capitalist OneLiberty Fund IV LP.
