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Infosys consolidated profit up 24.29% at Rs 2,369 cr in Q2

The country's second largest software firm says its consolidated revenue for the quarter under review grew 21.7 per cent to Rs 9,858 crore.

BT Online Bureau | October 12, 2012 | Updated 20:49 IST

In line with estimates, the country's second largest software firm Infosys on Friday posted 24.29 per cent jump in consolidated net profit to Rs 2,369 crore for 2012 July-Sept period up 24.29 per cent at Rs 2,369 crore, but its guidance disappointed the market pulling down the scrip by about 8 per cent.

Citing global economic uncertainties, Infosys lowered its revenue growth guidance for the current financial year to 17.3 per cent setting off alarm bells.

The company's net profit was Rs 1,906 crore for the same quarter last fiscal (2011-12).

The company's revenues were up 21.7 per cent to Rs 9,858 crore in the second quarter from Rs 8,099 crore in the year-ago period, Infosys said in a BSE filing.

The IT bellwether said its consolidated revenue for the quarter under review (Q2) grew 21.7 per cent to Rs 9,858 crore (Rs 98.58 billion).

Company CFO V Balakrishnan will be giving up his position as CFO from October 31, after six years at the helm of the company's finances.

However, he will continue as a member of the Board and will be responsible for three key businesses -- Infosys BPO, Finacle and the India Business Unit.

The company had posted a net profit of Rs 1,906 crore for the July-September quarter of the previous fiscal (2011-12).

"Global economic uncertainties continue to face the industry. We have increased employee wages, used some of our cash in a transformational acquisition of a consulting business and enhanced our investment in R&D and solutions," Infosys CEO and Managing Director S D Shibulal said.

These initiatives will position us well in the industry and provide a strong platform for future growth, he added.

Rajiv Bansal, at present Vice President (Finance) will take over as CFO from November 1, 2012, the filing said.

For FY2012-13, the company said it expects its rupee revenue to be at least Rs 39,582 crore (a year-on-year growth of 17.3 per cent).

With PTI inputs

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