Infosys Q2 net profit rise to Rs 3,096 crore with 7% growth

Infosys Technologies, India's second-largest IT services exporter, on Friday defeated market expectations with a profit after tax (PAT) of Rs 3,096 crore for the second quarter of the current financial year, versus an ET NOW Poll of Rs 2,864.4 crore. 

This is a rise of 7.2% QoQ, from Rs 2,886 crore in the previous quarter. The company retained the FY15 revenue guidance at 7%-9%., which puts the company on the radar once again  It seems that Vishal Sikka effect seems to work  However, it is too early to say 

The IT major reported a sales figure of Rs 13,342 crore. The company's board approved a bonus issue of 1:1. Infosys also declared an interim dividend of Rs 30/share. 

The Q2 EBIT margin came in at 26.1% versus 25.14% QoQ. In dollar terms, the NYSE-listed firm's net profits grew 33.4 per cent to $511 million in second quarter of this fiscal from $383 million in the year-ago period. 

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 from $2.07 billion in the same quarter of previous financial year. 

The Q2 attrition was at 20.1%. 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. 

UB Pravin Rao, COO, said, "On several fronts, our efforts to bring in operational efficiencies yielded encouraging results during the quarter. We have seen positive results of some of our interventions on sales, margins and attrition, and we will continue to focus on these areas."