Info-tech

Infosys Q2 profit up 11% at Rs 1,906 cr

K. Giriprakash Bangalore | Updated on March 12, 2018

A file photo of Mr S.D. Shibu Lal, Infosys CEO and MD. The company estimates 24.2 per cent growth y-o-y for the third quarter.   -  BUSINESS LINE

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IT bellwether Infosys Technologies came up with no major surprises in its second quarter results for the fiscal with its net profit posting a 10.7 per cent increase on a sequential basis to Rs 1,906 crore on revenues of Rs 8,099 crore which grew 8.2 per cent for the same period.

Stating that the global macroeconomic environment was still a concern for the IT sector, Infosys Chief Executive Officer and Managing Director, Mr S.D. Shibu Lal, said clients are looking for new opportunities for growth and increased returns on investments.

The Infosys stock reacted positively with the price rising by Rs 150 (6 per cent) to Rs 2,655 in the early morning trading.

“Our strategic initiatives and organisation structure will enable us to build long-term partnerships with our clients and help them drive their business objectives.’’

Infosys, which gives quarterly guidance for its topline, said for the third quarter, revenues are expected to be in the range of Rs 8,826 crore and Rs 9,012 crore, which is a year-on-year growth of 24.2 per cent to 26.8 per cent. Earnings per share is expected to be in the range of Rs 38.51 and Rs 39.20 with a year-on-year growth of 23.6 per cent and 25.8 per cent.

Guidance

For the entire fiscal, revenues are expected to be in the range of Rs 33,501 crore and Rs 34,088 crore with YoY growth of 21.8 per cent to 24 per cent and earnings per share is expected to be in the range of Rs 143.02 and Rs 145.26 registering a year-on-year growth of 19.7 per cent and 21.6 per cent.

The company said for the second quarter it added 15,352 (gross) and 8,262 (net) employees with a total employee strength of 1,41,822. It added 45 clients during the quarter.

Infosys said that it will add 8,000 more employees in the next quarter.

Published on October 12, 2011

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