Infosys profit up 34.5% on orders, tax benefit |
MarketWatch - Jul 11, 2007 |
Infosys Technologies said Wednesday first-quarter profit rose 34.5% on strong growth in outsourced orders and a tax benefit, but shares fell as it cut earnings guidance for the full year due to a stronger rupee against the dollar.
Net profit for India's second-largest software exporter rose to 10.79 billion rupees ($268.8 million) in the quarter ended June 30, from 8 billion rupees a year earlier. Earnings per share for the quarter rose 31.5% to 18.89 rupees (47 cents).
Revenue in the quarter increased 25.1% to 37.73 billion rupees ($939 million) as the company added 35 new clients.
"The results were neither too good nor too bad. If you remove the rupee impact, everything is in line with expectations," said R. Ravi, an analyst with Karvy Stockbroking in Mumbai.
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- Posted: 2007-07-11 10:14:38
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