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October 13, 2011

Infosys Q2 revenues grow 16.7%

Net income rose 9.8% to $387m or 33.36 rupees a share in FY2012

By CBR Staff Writer

India-based software company Infosys has reported revenues of $1,746m for the quarter ending 30 September 2011, growing 4.5% quarter-on-quarter, and 16.7% year-on-year.

The company said that net income after tax for the quarter was $411m, with QoQ growth of 7.0% and YoY growth of 9.9%.

Net income rose 9.8% to $387m or 33.36 rupees a share in the quarter ended 30 September from 30.40 rupees a share, a year earlier, Infosys said today. Profit beat the 18.7 billion rupee median of 35 analysts’ estimates compiled by Bloomberg.

In the report, the company also revealed that it added 45 clients during the quarter, and registered a gross addition of over 15,000 employees in the quarter. It said 8,262 employees were the net addition in the quarter.

Earnings per American Depositary Share (EPADS) was$ 0.72 for the quarter ended 30 September, said Infosys, adding that QoQ growth was 7.5% and YoY growth was 10.8%.

Gross addition of 15,352 employees (net addition of 8,262) for the quarter by Infosys and its subsidiaries

The company has declared an interim dividend of `15 per ADS (equivalent to an interim dividend of $0.31 per ADS, at the prevailing exchange rate of `48.98 per US$).

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CEO and managing director S. D. Shibulal said the global macroeconomic environment is still uncertain, and it is and should be a concern for the IT industry.

He continued, "In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments. Our strategic initiatives and organisation structure will enable us to build long term partnerships with our clients and help them drive their business objectives."

The company has raised the full year sales guidance in rupee terms to between 335 billion rupees and 340.9 billion rupees from an earlier forecast for between 317.8bn rupees and 323.1bn rupees.

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