Infosys Q1 net up 15.72 per cent at Rs. 1,722 cr

The country’s second largest software firm Infosys on Tuesday reported a 15.72 per cent jump in consolidated net profit to Rs. 1,722 crore for the first quarter ended June 30, 2011.

The company had posted a net profit of Rs. 1,488 crore for the samequarter of the previous fiscal (2010—11), Infosys said in a filing to the Bombay Stock Exchange.

“We have re-organised the company to be more industry domain-focused, which will accelerate innovation and make us more responsive to clients’ needs. We believe that Infosys is well positioned to be a transformational partner for large clients even as they navigate through uncertain times,” Infosys CEO and Managing DirectorS. Gopalakrishnan said.

The company’s revenues rose to Rs. 7,485 crore in the first quarterfrom Rs. 6,198 crore in the year—ago period, up 20.76 per cent.

Infosys expects revenues to be in the range of Rs. 7,699 crore and Rs. 7,810 crore for the quarter ending September 30, 2011.

In addition, the company forecast its revenues would be in the range of Rs. 31,777 crore and Rs. 32,311 crore for the fiscal ended March 31, 2012.

“We continue to focus on high quality growth, balancing both revenue growth and margins,” Infosys Member of the Board and Chief Financial Officer V. Balakrishnan said.

As of June 30, 2011, Infosys’ cash and cash—equivalents, including investments in available—for—sale financial assets and certificates of deposit, stood at Rs. 16,969 crore, as against Rs. 16,005 crore as of June 30, 2010.

At the end of June 30, the company had 1, 33,560 employees, including 2,740 new staff inducted during the first quarter.