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Infosys posts record Q2 profits
Bangalore based technology giant Infosys Ltd posted a record Q2 profit for the quarter ended September 30 2011. This also resulted a hike in its market value per share as shares rose by six per cent.

INDIA’S SECOND largest IT company Infosys'>Infosys Ltd posted a record 9.7 per cent hike in its Q2 profits and shortly thereafter diminished its full year sales projections thus relieving investors and avoiding a dip in the outsourcing sector. After the announcement, it was calculated that Infosys’ consolidated profits saw a hike of approximately 8 per cent to Rs. 8,099 crore against the expected Rs. 8, 058 crore. The second quarter ended September 30 2011.

As the news became public, Infosys’ shares saw a rise of 6 per cent on Wednesday; it’s highest in the last two months leaving behind the 1.4 per cent rise in the entire industry. Goldman Sachs and BT Group amongst various others being Infosys’ main clients, for the year 2011 the company cut short its growth expectations to 17.1 per cent to 19.1 per cent compared to the projected 18 per cent to 20 per cent.

Taking note of the developments within the company, Deven Choksey, MD KR Choksey told NDTV Profit, “The consolidated earnings per share (eps) is between Rs. 143-144 which is an improvement over the last quarter, when they said they will do an eps of Rs. 139 or so.” He further added, “The other income component has moved up from expectations of Rs. 305 crore to Rs. 387 crore which has led to better profits”.

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