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Infys Q2 Profit Up 9.7% At Rs 1,906 Cr

Bangalore, Oct 12: Aided by weakening rupee, country's second largest exporter Infosys today reported 9.72 per cent jump in profit for July-September period at Rs 1,906 crore, beating market expectations.Infosys had posted a net profit

PTI [ Updated: October 12, 2011 19:12 IST ]
infys q2 profit up 9.7 at rs 1 906 cr
infys q2 profit up 9.7 at rs 1 906 cr

Bangalore, Oct 12: Aided by weakening rupee, country's second largest exporter Infosys today reported 9.72 per cent jump in profit for July-September period at Rs 1,906 crore, beating market expectations.


Infosys had posted a net profit of Rs 1,737 crore for the September quarter of the last fiscal (2010-11).

The company also said it is close to acquiring Thomson Reuters' healthcare business (for USD 700-750 million).

“We are dating...not yet engaged.....we need to understand each other. So, we are definitely...we have an intention to get engaged, Infosys CEO and MD S D Shibulal told reporters.

Company's revenues during the period rose 16.6 per cent to Rs 8,099 crore.

Giving bullish outlook, Infosys said revenues are expected to be in the range of Rs 8,826 crore and Rs 9,012 crore for the quarter ending December 31, a growth in the region of the 24.2-26.8 per cent.

For the fiscal ending March 31, 2012, it has estimated revenues of Rs 33,501 crore- Rs 34,088 crore, a growth of 21.8- 24 per cent.

The encouraging earning forecast, after dampening results of the past few quarters, bolstered the markets. Infosys shares surged close to 7 per cent on BSE. It also helped the broader market, with BSE benchmark Sensex gaining 422 points.

The market value of the company spurted by Rs 9,836 crore in just one trading session to Rs 1,53,915 crore.

“Infosys' results and guidance were cheered by the market participants and the scrip became the best performer among the blue-chip companies,” Inventure Growth and Securities Head Equity Amit Chheda said.

Market analysts said rupee weakening to 48-49 levels against the dollar bolstered the performance of Infosys which earns a major chunk of revenues from the US and Europe.

They also said the earning forecast particularly pleasing considering the volatile situation persisting maro economic challenges in the US lingering Eurozone crisis. PTI

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