Infosys Q2 profit jumps 35.57 per cent
By Our Corporate Bureau | 13 Oct 2005
Bangalore: Riding on the continuing outsourcing boom, software bellwether Infosys has reported a net profit of Rs606 crore for the second quarter ended September 30, 2005, a healthy 35.57 per cent jump over the corresponding quarter of last fiscal.
Infosys said its revenues grew to Rs2,294 crore, a 31.16 per cent year-on-year jump.
Infosys also revised upwards its revenue guidance, projecting it to be in the range between Rs9,361 crore and Rs9,383 crore, a 31.30-31.61 per cent growth, for the fiscal ending March 31, 2006.
The company's revenue reached $1 billion in the first half of the current fiscal against the $1 billion attained in the whole of fiscal 2004.
Infosys made the highest-ever recruitment for any quarter in its history with a gross addition of 8,026 employees, taking the total headcount in the company and its subsidiaries to 46,196 employees.
Nandan Nilekani, the company's chief executive officer and managing director, has also announced that N R Narayana Murthy, Infosys Technologies' founder and chief mentor, will retire as executive chairman of the company in August 2006. Murthy was on record saying that he would step down as chairman of Infosys in August 2006, when he turns 60 as per the company's policy.
It is not known whether Murthy would continue as chief mentor of the company after his retirement.