Infosys Q1 net up 15.72% at Rs 1,722 crore

The country's second largest software firm Infosys on Tuesday reported a 15.72 per cent jump in consolidated net profit to Rs 1,722 crore (Rs 17.22 billion) for the first quarter ended June 30, 2011.

The company had posted a net profit of Rs 1,488 crore (Rs 14.88 billion) for the same quarter of the previous fiscal (2010-11), Infosys said in a filing to the Bombay Stock Exchange.

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"We have reorganised the company to be more industry domain-focused, which will accelerate innovation and make us more responsive to clients' needs. We believe that Infosys is well positioned to be a transformational partner for large clients even as they navigate through uncertain times," Infosys CEO and managing director S Gopalakrishnan said.

The company's revenues rose to Rs 7,485 crore (Rs 74.85 billion) in the first quarter from Rs 6,198 crore (Rs 61.98 billion) in the year-ago period, up 20.76 per cent.

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Infosys expects revenues to be in the range of Rs 7,699 crore (Rs 76.99 billion) and Rs 7,810 crore (Rs 78.10 billion) (y-o-y growth of 10.8 per cent to 12.4 per cent) for the quarter ending September 30, 2011.

In addition, the company forecast its revenues would be in the range of Rs 31,777 crore (Rs 317.77 billion) and Rs 32,311 crore (Rs 323.11 billion) -- y-o-y growth of 15.5 per cent to 17.5 per cent -- for the fiscal ended March 31, 2012.

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"We continue to focus on high quality growth, balancing both revenue growth and margins," Infosys member of the board and chief financial officer V Balakrishnan said.

As of June 30, 2011, Infosys' cash and cash-equivalents, including investments in available-for-sale financial assets and certificates of deposit, stood at Rs 16,969 crore (Rs 169.69 billion), as against Rs 16,005 crore (Rs 160.05 billion) as of June 30, 2010.

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Infosys, which has Goldman Sachs, BT Group and BP Plc among its clients, added 26 new clients during the quarter.

At the end of June 30, the company had 1,33,560 employees, including 2,740 new staff inducted during the first quarter.