Infosys Technologies Ltd, India's No. 2 software services company, posted a 21 per cent rise in quarterly profit, beating forecasts, boosted by a weaker rupee. It has posted 4.24 per cent growth in its first quarter consolidated net profit at Rs 1302 crore (Rs 13.02 billion) against Rs 1249 crore (Rs 12.49 billion) posted in the previous quarter.
While net profit is above market expectations, sales are in line with estimates.
Income was Rs. 4,854 crore for the quarter ended June 30, 2008; YoY growth was 28.7%
Net profit after tax was Rs. 1,302 crore for the quarter ended June 30, 2008; YoY growth was 20.7%.Earnings per share increased to Rs. 22.75 from Rs. 18.89 in the corresponding quarter in the previous year; YoY growth was 20.4%.
Income was Rs. 4,854 crore for the quarter ended June 30, 2008; YoY growth was 28.7%
Net profit after tax was Rs. 1,302 crore for the quarter ended June 30, 2008; YoY growth was 20.7%.Earnings per share increased to Rs. 22.75 from Rs. 18.89 in the corresponding quarter in the previous year; YoY growth was 20.4%.
Despite, the in-line market expectations, the Infy stock on its opening today declined touch above 1.1%. This probably is due to its Rupee:Dollar expectation of Rs.43.05/$ for the second quater.
