Infosys' PAT up 31 p.c. at Rs. 202 cr. in Q2

By Our Staff Reporter

BANGALORE, OCT. 10. Infosys Technologies has surpassed expectations of analysts who had projected a mere 2.2 per cent increase in its quarterly revenues having earned a `` record post tax profit of Rs. 201.56 crores, the highest in any quarter,'' an upbeat Mr. Nandan M. Nilekani, managing director, president and COO of Infosys told the media. The record profit is up 31 per cent over the same quarter last year.

The company had posted a net profit of Rs. 154.01 crores in the corresponding quarter last year. The software services and development company has recorded income of Rs. 650.13 crores for the second quarter ended September 30,2001, an increase of 45.7 per cent over income of Rs. 446.10 crores in the corresponding quarter. An interim dividend of 150 per cent has been announced working out to Rs. 7.50 per share of par value of Rs. 5 each.

During Q2,Infosys acquired 28 new clients with 11 of them in the post-September 11 phase. Net addition of 607 employees with 92 lateral software professionals were recruited during the second quarter. The company has however deferred campus recruitments to align with its new business strategy of ``expanding and consolidating our presence in new areas of software services like enterprise applications,'' according to Mr. Nilekani.

For the third quarter ended December 31, 2001, Infosys has projected income between Rs. 640 crores and Rs. 656 crores and earnings per share is expected to range from Rs. 29 to Rs. 31. The company has predicted income of Rs. 2540 crores to Rs. 2590 crores for the fiscal year ended March 31, 2002 and earnings per share of Rs. 120 to Rs. 123 for the same period.

Our Corporate Bureau adds:

The utilisation rate including trainees was 68.8 per cent in the second quarter as compared to 69.5 per cent in the quarter ended June 30, 2001. Software revenues in dollar terms grew by 5.2 per cent in the second quarter as compared to the previous quarter. ``The market continues to be challenging and pricing pressures continue'' according to Mr. S. Gopalakrishnan, deputy managing director and head (customer service and technology).

In the half year ended September 30, 2001 total income was Rs. 1,262.65 crores against Rs. 801.62 crores and the net profit after taxation Rs. 391.59 crores against Rs. 280.81 crores.

The equity capital was Rs. 33.08 crores while reserves stood at Rs. 1,709.41 crores as on September 30, 2001.

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