Infosys Technologies clocks Q2 net profit of Rs 2,258 million

Mumbai: Infosys Technologies has posted a net profit of Rs 2,257.7 million for the quarter ended 30 September 2002 as compared to Rs 2,015.6 million for the quarter ended 30 September 2001. The total income has increased from Rs 6,647.9 million in SQ 2001 to Rs 8,971million in the quarter ended 30 September 2002.

The board of directors has recommended an interim dividend of Rs 12.5 per share of par value of Rs 5 each, which is an interim dividend of 250 per cent, for the financial year 2002-03.

Infosys Technologies has issued its outlook for the quarter ending 31 December 2002. It said the income from software development services and products is expected to be between Rs 8,900 million and Rs 9,040 million.

The earnings per share of the company are expected to be between Rs 37 and Rs 38. For the fiscal year ending 31 March 2003, it said the income from software development services and products is expected to be between Rs 34,330 million and Rs 34,670 million. The earnings per share are expected to be between Rs 142 and Rs 145.

Infosys Technologies has announced that treasury and wholesale banking will be a major focus area in the European market for its banking business unit. Finacle, the Infosys e-platform for the global banking industry, has recently been augmented with the acquisition of a treasury solution, which is now being marketed under the brand Finacle Treasury.

Finacle Treasury is an integrated front, middle- and back-office treasury system that provides full straight through processing (STP) and covers the full breadth of instruments across money markets, foreign exchanges, fixed income products and their derivatives. It supports full back-office processing capability, including the general ledger, and extensive middle-office features such as limits management and risk and liquidity management.

Additionally, it supports continuous 24/7 trading across geographical regions with global replication capability. Finacle Treasury, based on new generation technologies (OO design, ORB based 3-tier architecture), offers openness, interoperability and extensibility. Finacle Treasury is optimised for the Sun platform and leverages its powerful capabilities to provide a very high level of scalability.

Finacle Treasury clients include some of the largest top-tier banking groups, investment banks and commercial banks in the world with installations in Switzerland, the UK, the US and Japan. Credit Suisse group, one of the key clients, has deployed Finacle Treasury across its treasury operations in Europe and the US, supporting around 500 users worldwide, says Infosys senior vice-president and head (banking business unit) Girish Vaidya.