Infosys second-quarter net profit up 29%
Source: AFP |
October 11, 2014, Saturday
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Print Edition
Print Edition
INDIAN IT giant Infosys reported yesterday a better-than-expected 29 percent jump in second-quarter net profit, helped by a strong US dollar and cost reductions, while it announced a bonus stock issue, sending its shares soaring.
The country’s No. 2 IT services exporter said July-September net profit hit 30.96 billion rupees (US$506 million), up from 24.07 billion rupees in the same period last year and ahead of forecasts of 29.6 billion rupees.
“Our efforts to bring in operational efficiencies yielded encouraging results during the quarter,” Infosys Chief Operating Officer U.B. Pravin Rao said.
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