Infosys Q2 Results: Net Profit up by 9.7%

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Infosys Q2 Results: Net Profit up by 9.7%
Infosys: Quotes, News
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India's second largest IT company, Infosys has reported a rise of 9.7% in its net profit at Rs 1,906 crore year-on-year (yoy) for the quarter ended September 30, 2011. For the second quarter of FY12, the company's consolidated Net Revenues rose by 16.6% (y-oy) to Rs 8,099 crore.

The company's Net profit in the previous quarter was at around Rs 1,720 crore, which shows 8.2% growth in Net profits quarter-on-quarter (q-o-q).

Company's earnings per share (EPS) grew by 9.7% y-oy to Rs 33.36 for the quarter ended September 30, 2011.

Infosys and its subsidiaries added 45 new clients during the quarter.

S. D. Shibulal, CEO and Managing Director of Infosys said, “The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry.”

Company is expecting its Net profit to rise in Revenues by 24.2% to 26.8% in between Rs 8,826 – Rs 9,012 crore for third quarter ending on December 31, 2011.

Company's total operating expenses rose to Rs 1,074 crore this quarter as against Rs 878 crore previous year quarter.

Other income grew from Rs 267 crore to Rs 387 y-o-y.

“In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments. Our strategic initiatives and organization structure will enable us to build long term partnerships with our clients and help them drive their business objectives,” Shibulal added.

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