Infosys Q2 net rises 30 pc, beats forecast
Infy posted a 30.2 per cent jump in quarterly profit, helped by a weaker rupee.
Bangalore: Infosys Technologies, India's second-largest software services exporter, posted a 30.2 per cent jump in quarterly profit, helped by a weaker rupee, beating market forecasts.
Infosys, which , said July-September consolidated net profit rose to 14.32 billion rupees ($291 million) from 11 billion rupees a year ago.
A Reuters poll of brokerages had estimated net profit of 13.99 billion rupees for Infosys, which has ABN AMRO, Goldman Sachs and Philips Electronics among its clients.
India's export-driven software service firms, who were used to a scorching pace of growth, have been badly hit by a slowdown in their main US market and a spreading financial crisis.
Shares in Infosys, whose takeover bid for British consultancy Axon Group has been upstaged by a counter offer from a smaller Indian rival, fell 19 per cent in July-September, worse than a 4.5 per cent fall in the main Mumbai index.
- Soldier Inadvertently Crossed LoC, Pakistan Has Been Informed: Army
- After Cross-LoC Strikes, Indian High Commissioner Summoned By Pakistan
- BlackBerry To Stop Making Handsets, Will Outsource Production
- Former Israeli Prime Minister, Nobel Prize Winner Shimon Peres Passes Away
- Uran Terror Scare: Navi Mumbai Cops Call Off Search Operation
- Navy Calls off Search Operations in URAN; ATS, Police Continue the Hunt
- Police Release Sketch of Suspects Based on School Children's Description
- Uran Terror Alert: Police Release Sketches of 2 Suspects