Infosys' Q2 net vaults 51.5 per cent to Rs983 crore

Mumbai: Information technology services major Infosys Technologies has reported a 51.5-per cent rise in consolidated net profit at Rs983 crore in the third quarter.

The Nasdaq-listed company said revenues in the quarter ended December 31, 2006, grew by 44.4 per cent to Rs3,655 crore, compared to the same period in the previous fiscal.
The standalone net profit of Infosys for the quarter was up 49.22 per cent at Rs958 crore against Rs642 crore posted in the year-ago period.

Total income has increased to Rs3, 714 crore for the quarter from Rs2,527 crore for the quarter ended December 31, 2005.

For fiscal year ending March 31, 2007 the company expects income in the range of Rs13,910 crore and Rs13,919 crore. Earnings per share before exceptional items are expected to be Rs66.63 - an year-on-year growth of 48 per cent.

Revising the guidance upward, the company said revenues are expected to grow between 46.1 per cent - 46.2 per cent in fiscal 2007.

The company's CEO and managing director Nandan M Nilekani said its investments in enriching and synergising its portfolio of services have created compelling value propositions for its clients.

"As our clients focus on enhancing their competitiveness, they are leveraging our capability to drive their transformation programmes," Nilekani said

"We have delivered double-digit revenue growth in dollar terms for the third consecutive quarter during this fiscal," said S Gopalakrishnan, COO, president and joint managing director. "We have seen accelerated growth in Europe, which continues to be a key focus market for us," he added.