Infosys Q2 up 13 pc; to pay special dividend at Rs 30 each

Infosys Q2 up 13 pc; to pay special dividend at Rs 30 each

The company also proposed a special dividend of Rs 30 per equity share to celebrate its 30th anniversary. This is besides the proposed interim dividend of Rs 10 per equity share on the face value of Rs 5 each.

"Though the economic environment continues to be challenging, we have leveraged our client relationships, solutions and investments to grow faster in this quarter," Infosys Technologies CEO and MD S Gopalakrishnan said.

As per the International Financial Reporting Standards, the company had a net profit of Rs 1,535 crore in the September quarter of the previous fiscal (2009-10), Infosys said in a filing to the Bombay Stock Exchange.

The consolidated revenue of the country's second largest software exporter rose to Rs 6,947 crore, against Rs 5,585 crore over the year-ago period. Significantly, the company along with its subsidiaries added 27 clients, taking its active clientele to 592.

"Our operating margins improved during the quarter while our liquidity position was further strengthened with cash and cash equivalents reaching USD 3.9 billion," Infosys CFO V Balakrishnan said.

The cash and cash equivalents of the company rose by 27 pc to Rs 15,401 crore during the quarter ended September 30, over the same period last year.

"There are significant drivers for investment in Information Technology since any transformation program to build tomorrow's enterprises' requires these investments to be made," Gopalakrishnan added.

For the quarter ending December 31, the company expects its revenue to be in the range of Rs 6,884 crore- Rs 6,953 crore. Further, for the fiscal year ending March 31, 2011, it anticipates revenues to be in the range of Rs 26,951 crore-Rs 27,165 crore.

The company made a net addition of 7,646 employees, taking its total headcount to 1,22,468 employees as on September 30, 2010.

"We have seen record hiring this quarter and attrition has decreased," Infosys Member of the Board and Head – HRD and Education & Research TV Mohandas Pai said.

On the standalone basis, the company has reported a growth of 14.11 per cent in its net profit at Rs 1,641 crore, over the same period previous fiscal.

Shares of Infosys this morning were trading at Rs 3,156.20, down 0.88 per cent on BSE.

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