Infosys CEO Vishal Sikka announcing the second-quarter financial results at its headquarters in Bengaluru on Friday
Infosys CEO Vishal Sikka announcing the second-quarter financial results at its headquarters in Bengaluru on Friday

NEW DELHI : Infosys Technologies, India’s second-largest IT services exporter, on Friday beat market expectations with a Profit After Tax (PAT) of Rs 3,096 crore for the second quarter of the current financial year.

This is a rise of 7.2% QoQ, from Rs 2,886 crore in the previous quarter. The The Bangalore-based firm retained the FY15 revenue guidance at 7%-9%.

Consolidated revenue was up 2.9 per cent to Rs 13,342 crore in the said quarter. The company’s board approved a bonus issue of 1:1. Infosys also declared an interim dividend of Rs 30/share. In dollar terms, the company’s revenues rose 6.5 per cent to $2.2 billion in the July-September quarter of 2014-15 fiscal.

The company’s gross addition of employees stood at 14,255 during the quarter. Infosys and its subsidiaries added 49 clients (gross) during the quarter.

Commenting on the results, Infosys’ new CEO Vishal Sikka said, “Digital transformation is reshaping the business of every one of our clients. We see this as a great opportunity to help them renew the core of their business as well as to expand into new frontiers and are seeing early positive results.”

“Our strategy is to apply the same principles to our own business in order to capture this opportunity and accelerate our growth, within our culture of lifelong learning and purposeful work,” he added.

The attrition level grew higher to 20.1% in the July-September 2014 quarter as compared to 19.5% in the April-June 2014 quarter and 17.3% in Q2 last fiscal.

However, the company is confident of bringing it down to 12-14% in the next two quarters as it gets back to the growth trajectory.

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Sensex tumbles, Infosys up 6.68%

The BSE benchmark Sensex tumbled 340 points to 26,297.38, its biggest fall in over two weeks, due to sharp profit-booking amid weakness overseas on worries about growth in Euro area and disinflation risks, but Infosys bucked the trend and surged 6.68% to on smart Q2 earnings.

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