Infosys Q2 net up 24.29% at Rs 2,369 crore

Infosys on Friday reported a 24.29 per cent jump in consolidated net profit to Rs 2,369 crore (Rs 23.69 billion) for the second quarter ended September 30.

The company's revenues were up 21.7 per cent to Rs 9,858 crore (Rs 98.58 billion) in the second quarter from Rs 8,099 crore (Rs 80.99 billion) in the year-ago period, Infosys said in a BSE filing.

Company chief financial officer 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 or Rs 395.82 billion (a year-on-year growth of 17.3 per cent).