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Infosys Q2 net rises 30 pc, beats forecast

News18

First published: October 10, 2008, 9:41 AM IST | Updated: October 10, 2008
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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.

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