Infosys reports upbeat Q2 numbers; net profits at Rs 3096 crores

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, October 10, 2014, 12:36 [IST]

IT major Infosys reported profits that once again beat street estimates as the company reported net profits of Rs 3096 crore for the quarter ending Sept 30, 2014, as against analysts expectations of Rs 2800 crores.

Revenues of the company came in at Rs 13,342 crores, growing by a healthy 7.3 per cent compared to the previous quarter. The EBIT for the company came in at Rs 3483 crores, pushing the EBIT margin to 26.1 per cent, a good 100 basis points over and above the previous quarter.

Dollar revenues were also upbeat at $2201 million, a growth of 3.1 per cent.The board of Infosys has approved a bonus share in the ratio of 1:1 and an interim dividend of Rs 30 per share.

"Digital transformation is reshaping the business of every one of our clients. We see this as a great opportunity to help them renew the core of their business as well as to expand into new frontiers and are seeing early positive results, " said Dr. Vishal Sikka, Chief Executive Officer and Managing Director. "Our strategy is to apply the same principles to our own business in order to capture this opportunity and accelerate our growth, within our culture of lifelong learning and purposeful work.

The stock of Infosys was up a huge 5 per cent in early trade.

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