Infosys Profit Rises Up to 7.5%

BANGALORE -- Infosys Technologies Ltd. Friday beat market expectations to post a 7.5% rise in second quarter net profit and raised its full-year guidance as well, signaling improving times for India's information technology industry.


Consolidated net profit for the three months ended Sept. 30 increased to 15.40 billion rupees ($333.3 million), or 26.86 rupees a share, from 14.32 billion rupees, or 25.02 rupees a share, a year earlier.
Every quarter, Bangalore-based Infosys is the first major Indian technology firm to report its results.
Its performance is often considered an indication of how its rivals will do. Its second quarter results have raised the expectation that peers such as Tata Consultancy Services Ltd., Wipro Ltd. and HCL Technologies Ltd. will also report numbers which reflect improving demand.
Source:The Wall Street Journal

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