BUSINESS

Infosys Q2 results beat estimates; stock surges

Source:PTI
October 10, 2014

Beating market expectations, IT major Infosys on Friday posted 28.6 per cent jump in consolidated net profit to Rs 3,096 crore for the quarter ended September 30.

The Bangalore-based firm had reported a net profit of Rs 2,407 crore (Rs 24.07 billion) in the year-ago period, it said in a BSE filing. Consolidated revenue was up 2.9 per cent to Rs 13,342 crore (Rs 133/42 billion) in the said quarter from Rs 12,965 crore in the year-ago period.

In the April-June quarter this fiscal, Infosys reported a net profit of Rs 2,886 crore (Rs 28.86 billion) and a revenue of Rs 12,770 crore (Rs 127.7 billion). Buoyed by a strong set of numbers, the company has declared an interim dividend of Rs 30 per equity share as compared to Rs 20 in the previous year.

It has also recommended a bonus issue of one equity share for every equity share held, and a bonus issue of a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively. The better-than-expected set of numbers pushed the company's stock up 5.61 per cent to Rs 3,850.05 apiece in early trade on the BSE.

For FY15, the country's second-largest software services firm maintained its revenue guidance of 7-9 per cent growth. In dollar terms, the NYSE-listed firm's net profits grew 33.4 per cent to USD 511 million in second quarter of this fiscal from $383 million in the year-ago period.

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Source: PTI
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