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Infosys Q1 net rises 17 pc at Rs 1,527 cr

Software major Infosys Technologies reported a 17.28 per cent growth in consolidated net profit at Rs 1,527 crore in the first quarter ended 30th June, 2009.

The firm had a net profit of Rs 1,302 crore in the first quarter of the previous fiscal, Infosys said in a filing to the Bombay Stock Exchange.

The income of the company from software services, products and business process management stood at Rs 5,472 crore for the Q1 ended 30th June, 12.73 per cent up from Rs 4,854 crore in the corresponding period a year-ago.

“We believe that in the short term the global economic environment will continue to be challenging. We are working closely with our clients to help them navigate the downturn,” Infosys CEO and Managing Director S Gopalakrishnan said.

On a quarter-on quarter basis, however, Infosys’ net profit declined 5.33 per cent to Rs 1,527 crore in Q1, from Rs 1,613 crore in the January-March quarter of FY 2009.

“The global currency markets continue to be volatile. During the quarter, the rupee appreciated against the US dollar,” Infosys Chief Financial Officer V Balakrishnan said.

On a standalone basis the software major posted a net profit of Rs 1,464 crore for the quarter ended June quarter, up 16 per cent from Rs 1,262 crore in the same period last fiscal.

Total income increased to Rs 5369 crore during the Q1 of FY’10, from Rs 4,647 crore in the year-ago period. During the quarter, Infosys and its subsidiaries added 27 new clients.

The company’s employee strength, however, declined by 945 during the said period to 1,03,905. The Earnings Per Share (EPS) increased to Rs 26.66 during the Q1, up 17.2 per cent from Rs 22.75 in the same quarter of the previous year.

“We continue to focus on margins while making the right investments to accelerate growth,” Balakrishnan said.

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Infosys Q1 net rises 17 pc at Rs 1,527 cr

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