Infosys Q2 net profit up by 3.5 pc to Rs 2,369 cr, CFO resigns
Posted on: 09:06 AM IST Oct 12, 2012
Mumbai: India's second largest software services exporter Infosys ' net profit rose by 3.5 per cent quarter-on-quarter to Rs 2,369 crore - largely in-line with expectations - in the second quarter of FY13. Revenues went up by 2.52 per cent to Rs 9,858 crore in the quarter ended September 2012 from Rs 9,616 crore in the previous quarter.
Analysts on an average had expected profit after tax at Rs 2,359 crore and revenues at Rs 9,910 crore. Revenues (in dollar terms) increased 2.6 per cent to $ 1.797 billion from $1.752 billion during the same period.
Earnings before interest and tax fell to Rs 2,597 crore from Rs 2,693 crore. Software bellwether cuts its earnings per share guidance to Rs 160.61 a share from Rs 166.46 a share earlier. The company also cut constant currency dollar revenue guidance to 5.7 per cent versus 6 per cent for FY13.
CFO V Balakrishnan will give up its position with effect from October 31, but he will continue to be a board member. V Balakrishnan will head BPO Finacle's India operations. Rajiv Bansal, who is currently a VP - Finance, will become new CFO.