Latest News - Friday, October 11, 2013 6:54:03 AM
Infosys lagged profit estimates for the July to September quarter, but sales topped estimates. Infosys shares rallied as much as 7.5 per cent in opening trade after the company upped the lower end of its annual sales guidance, indicating rising confidence at India's second largest outsourcer.
Infosys said net profit for the second quarter rose to Rs. 2,407 crore as against Rs. 2,374 crore in the June quarter. Profits lagged estimates on account of a one-time visa settlement charge of Rs. 219 crore. Revenues for the quarter rose to Rs. 12,965 crore as against Rs. 11,267 crore in the previous quarter, Infosys said.
Infosys US dollar revenue for the quarter jumped 3.8 per cent to $ 2066 million, higher than expectations of $2042 million. Infosys had recorded sales of $1991 million in the June quarter. This is the first time that Infosys topped $2 billion in quarterly sales.