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Infosys Q1 net at Rs 1,527 crore, up 17.28%

Last updated on: July 10, 2009 

Infosys Q1 net at Rs 1,527 crore, up 17.28%

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Software major Infosys Technologies on Friday reported a 17.28 per cent growth in consolidated net profit at Rs 1,527 crore (Rs 15.27 billion) in the first quarter ended June 30, 2009.

The firm had a net profit of Rs 1,302 crore (Rs 13.02 billion) in the first quarter of the previous fiscal, Infosys said in a filing to the Bombay Stock Exchange.


Image: Kris Gopalakrishnan, CMD, Infosys
Photographs: Rediff Archives
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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The income of the company from software services, products and business process management stood at Rs 5,472 crore (Rs 54.72 billion) for the Q1 ended June 30, 12.73 per cent up from Rs 4,854 crore (Rs 48.54 billion) in the corresponding period a year-ago.


Image: Infosys founders
Photographs: Courtesy, Infosys Technologies
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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"We believe that in the short term the global economic environment will continue to be challenging. We are working closely with our clients to help them navigate the downturn," Infosys CEO and managing director S Gopalakrishnan said.

Cash and cash equivalents, including investments in liquid mutual funds and certificate of deposits, as on June 30, 2009 was Rs. 12,030 crore or Rs 120.3 billion (Rs.7,411 crore or Rs 74.11 billion as on June 30, 2008).


Image: The lobby of Infosys's development centre in Mysore.
Photographs: Courtesy, Infosys Technologies
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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On a quarter-on quarter basis, however, Infosys' net profit declined 5.33 per cent to Rs 1,527 crore in Q1, from Rs 1,613 crore (Rs 16.13 billion) in the January-March quarter of FY 2009.

"The global currency markets continue to be volatile. During the quarter, the rupee appreciated against the dollar," Infosys chief financial officer V Balakrishnan said.


Image: Infosys's Mysore campus.
Photographs: Rediff Archives
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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On a standalone basis the software major posted a net profit of Rs 1,464 crore (Rs 14.64 billion) for the quarter ended June quarter, up 16 per cent from Rs 1,262 crore (Rs 12.62 billion) in the same period last fiscal.

The company's total income increased to Rs 5,369 crore (Rs 53.69 billion) during the Q1 of FY'10, from Rs 4,647 crore (Rs 46.47 billion) in the year-ago period.


Image: Staff walk around Infosys Technologies campus in Bangalore.
Photographs: Pawel Kopczynski/Reuters
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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During the quarter, Infosys and its subsidiaries added 27 new clients.

The company's employee strength, however, declined by 945 during the said period to 1,03,905.


Image: A visitor works on a laptop at a stall advertising Infosys.
Photographs: Stringer/Reuters
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Infosys Q1 net at Rs 1,527 crore, up 17.28%

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The company's earnings per share increased to Rs 26.66 during the Q1, up 17.2 per cent from Rs 22.75 in the same quarter of the previous year.

"We continue to focus on margins while making the right investments to accelerate growth," Balakrishnan said.


Image: Infosys Mysore campus.
Photographs: Stringer/Reuters
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