Infosys' consolidated Q2 net up 9.72%

IT bellwether Infosys on Wednesday reported a 9.72 per cent growth in its consolidated net profit to Rs 1,906 crore (Rs 19.06 billion) for the second quarter ended September 30.

The company had posted a net profit of Rs 1,737 crore (Rs 17.37 billion) for the September quarter of the previous fiscal (2010-11),

Infosys said in a filing to the Bombay Stock Exchange.

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The consolidated revenue of the country's second largest software exporter rose to Rs 8,099 crore (Rs 80.99 billion) in the reporting period from Rs 6,947 crore (Rs 69.47 billion) in the year-ago period, translating into a 16.58 per cent increase.

"The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry.

In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments," Infosys CEO and managing director S D Shibulal said in a statement.

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Infosys' strategic initiatives and organisational structure will enable it to build long-term partnerships with clients and help drive their business objectives, he added.

Revenues are expected to be in the range of Rs 8,826 crore (Rs 88.26 billion) to Rs 9,012 crore (Rs 90.12 billion) for the quarter ending December 31, a year-on-year growth of 24.2 per cent to 26.8 per cent.

For the fiscal ending March 31, 2012, it has estimated revenues of Rs 33,501 crore (Rs 335.01 billion) to Rs 34,088 crore (Rs 340.88 billion), a y-o-y growth of 21.8 per cent to 24 per cent, the statement said.

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The company's board has proposed an interim dividend of Rs 15 per equity share.

Infosys saw the gross addition of 15,352 employees during the quarter, while net additions amounted to 8,262 people. The total headcount of Infosys and its subsidiaries stood at 1,41,822 employees as of September 30, 2011.

The company added 45 clients during the reporting quarter.

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As on September 30, 2011, Infosys' cash and cash-equivalents, including investments in available-for-sale financial assets and certificates of deposits, stood at Rs 18,601 crore (Rs 186.01 billion), as against Rs 17,388 crore (Rs 173.88 billion) on the corresponding day last year.

"The global currency market continues to remain highly volatile on the back of the weak economic recovery in most of the developed markets," Infosys member of the board and chief financial officer V Balakrishnan said.

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The continued focus on adding measurable value to clients, coupled with Infosys' flexible financial model, will enable the company to make the right investments without compromising on high-quality growth, he added.

On a standalone basis, the company has reported a growth of 11 per cent y-o-y in net profit to Rs 1,822 crore (Rs 18.22 billion).

Infosys' revenues rose to Rs 7,470 crore (Rs 74.70 billion) in the July-September quarter from Rs 6,425 crore (Rs 64.25 billion) in the same period last fiscal.