Infosys Q2 net profit flat, at Rs 2,407 crore

Infosys has shown a flat Q2 net profit of Rs 2,407 crore, showing 1.6 percent Y-o-Y growth.

Revenues were  Rs 12,965 crore for the quarter ended September 30, 2013, up 14 percent quarter-on-quarter and up 31.5 percent year-on-year.

Earnings per share (EPS) was Rs 42.12 for the quarter ended September 30, 2013 with QoQ growth of 1.4 percent. EPS for the quarter was Rs 45.96 per share, excluding the provision of Rs 219 crore for visa related matters.

Infosys and its subsidiaries added 68 clients during the quarter and added gross addition of 12,168 employees (net addition of 2,964).

The country has declared an interim dividend of Rs 20 per share and the date for payment of dividend is October 18, 2013.

“During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings. This growth is a result of our focus on execution, which helps our clients achieve their objectives,” said SD Shibulal, CEO and managing director, Infosys.

“We will continue with planned investments and initiatives to explore new avenues of growth. We remain watchful of the sustainability of improving global economic fundamentals”, added Shibulal.

“The global currency market remains volatile with the Indian Rupee depreciating by 11% during the quarter. We have an active hedging program to minimize its impact on our margins. We will continue our focus on optimizing costs and enhancing the efficiency of our operations,” said Rajiv Bansal, chief financial officer, Infosys.

The company’s revenue outlook (consolidated) for the fiscal year ending March 31, 2014 is expected to grow 21-22 percent.

For Infosys, the products and platforms business continues to grow at a steady pace with 15 wins this quarter (excluding Finacle). Infosys is building momentum in the market with cloud and big data offerings. In the last quarter, the company won over 15 new projects.

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