Infosys net profits up 18.4 pc, touches 1100 cr

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Bangalore, Oct 11: Software major Infosys Technologies today announced a 19 per cent increase in its revenue at Rs 4,106 crore for the second quarter of the current fiscal, ending September 30, with net profit soaring by 18.4 per cent to touch Rs 1,100 crore, year-on-year basis.

The company, which crossed a billion Dollar revenue during the quarter, revised upwards its forecast in the current fiscal with the growth expected to be between 19.4 per cent and 19.8 per cent.

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Accordingly, the revenue for the year would be in the range of Rs 16,588 crore and Rs 16,648 crore.

Commenting on the results, Company CEO and Managing Director S Gopalakrishnan said ''in an increasing flat world, our unique business model combined with our value proposition continues to help our clients grow profitably.'' Infosys added 48 new clients during the quarter and had a gross addition of 8,543 employees (net 4,530). As on September 30, it had 80,501 employees on its rolls.

Chief Operating Officer S D Shibulal said the pricing remained upward and stable and went up by 1.9 per cent during the quarter.

''Our continued focus on consulting and business solutions have augmented our capability to serve clients in a competitive market place,'' he added.

The company declared an interim dividend of Rs six per share at the board meeting held today as against Rs five per share announced last year during the same time.

Chief Financial Officer V Balakrishnan said ''we are proactively hedging our currency exposures to mitigate the impact of appreciating Rupee.'' The hedging position as on September 30 was 1.4 billion US Dollars.


UNI

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