Infosys Q2 net up 48.64 per cent

Bangalore: Infosys Technologies yesterday reported a 48.64 per cent jump in net profit at Rs447.37 crore (Rs4.473 billion) for the second quarter ended September 30, 2004, over Rs300.98 crore (Rs3.009 billion) posted in the corresponding period last year.

Infosys reported revenues of Rs1,749.33 crore (Rs17.493 billion) for the period between July to September, an increase of 51.88 per cent over Rs1,151.80 crore (Rs11.518 billion) during the same period last year.

The company also revised its revenue outlook for the year from Rs,132 crore (Rs1.32 billion) to Rs7,160 crore (Rs71.60 billion).

Income was Rs1,749.33 crore for the second quarter ended September 30, 2004, an increase of 51.88 per cent over the comparable income for the corresponding quarter in the previous year.
Net profit after tax was Rs447.37 crore for the second quarter ended September 30, 2004, an increase of 48.64 per cent over the comparable net profit for the corresponding quarter in the previous year.

Earnings per share from ordinary activities increased to Rs16.71 from Rs11.36* for the corresponding quarter in the previous year, an increase of 47.10 per cent.

Interim dividend of Rs .00 per share (100 per cent on an equity share of par value of Rs 5 each) as compared to Rs 3.63* (72.50 per cent on an equity share of par value of Rs 5 each) for the corresponding period in the previous year. (* adjusted for the 3:1 bonus issue of shares distributed on July 6, 2004).

32 new clients were added during the quarter. With a net addition of 5,010 employees for the quarter, Infosys had 32,949 employees on its rostewr as on September 30, 2004.

"Offshoring has become a mega trend in the industry, as more customers leverage their partnership with Infosys to increase their global competitiveness," said Nandan Nilekani, CEO, president and managing director.

"We continue to focus on scalability, which is the key to rapid growth, and on differentiation, which is the key to higher client value," he added.