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Infosys Q2 net profit up 12%
By siliconindia
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Thursday, 10 October 2002, 19:30 IST
BANGALORE: Infosys Technologies Ltd said Thursday its July-September 2002 net profit rose 12 per cent from a year earlier, meeting market expectations. Total income rose 35.2 per cent to Rs 8.79 billion.
Infosys said it provided about Rs 237 million for investments, but details were not immediately available. its software services volumes grew 11.7 per cent and prices rose 4.4 per cent in the July-September quarter from the preceding three months.
For the full year ending March 2003, the company expected income from software development services and products at Rs 34.33 billion to Rs 34.67 billion.
It added 18 new clients in the September quarter, including electronics components distributor Arrow Electronics Inc, auto firm Porsche AG and aluminium sheets maker Commonwealth Industries. Infosys also reported a net staff addition of 1,806 in the three months ended September compared with 566 in the April-June period.
Infosys earned 24 per cent of its revenue in the past quarter from its top five clients.
According to a news agency, outsourcing contracts bagged by Indian companies will be significantly bigger than the current average size of about $25-30 million per year.
A sexual harassment case against former Infosys Technologies Head of Sales Phaneesh Murthy and the company may go to trial in U.S. court following the failure of an out-of-court settlement, the company said here Thursday.
"We entered into mediation that was not successful. So, the case will go for trial," Mohandas Pai, director and chief financial officer of the company, said in a press meet.
India's second largest software exporter Infosys is, however, not sure when the trial will begin and what kind of an impact it would have on the company, financially.