Infosys Results: Net profit up 7.54% at Rs 15.4 bn

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Infosys Results on Friday, October 9, helped it surge four per cent on the Bombay Stock Exchange in the early morning trade. The software company reported a jump of over 7% in its net profit

CJ: Vidhya N

Fri, Oct 09, 2009 11:40:09 IST

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Business News India :

INFOSYS RESULTS on Friday, October 9, helped it surge four per cent on the Bombay Stock Exchange in the early morning trade. The software company reported a jump of over 7% in its net profit for the second quarter on this fiscal, beating everyone's expectations.

Infosys Technologies shares surged 3.73% to Rs. 2,293.65, day's high on the Bombay Stock Exchange (BSE) to touch a new high of Rs.2,276.80 on the National Stock Exchange (NSE). The software giant reported a 7.54% rise in its consolidated net profit at Rs.1,540 crore and a total income at Rs. 5821 crore which was over six percent rise for the quarter ended September 30, 2009.

An interim dividend of 200% at the rate of Rs.10 a share was also decalred by the board. On the back of concerns that the appreciating ruppee would weigh on the profitability of the software services exporter, the surge came as a respite for the stock which was on a downtrend since October 1.

Rajesh Jain, SMC Global Vice President said that the infosys results have boosted the investor's sentiment to a great extent and would propel the IT counter and the broader markets, but the apprecaiting ruppee might be a cause of concern for the stock, despite such robust earnings and higher guidance.

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