July 09 2020
Infosys Q2 net up 24.29% at Rs. 2,369 cr
12 October 2012

IT major Infosys on Friday reported a 24.29 per cent jump in consolidated net profit to Rs. 2,369 crore for the second quarter ended September 30.

The company’s revenues were up 21.7 per cent to Rs. 9,858 crore in the second quarter from Rs. 8,099 crore in the year-ago period, Infosys said in a BSE filing.

Company CFO V. Balakrishnan will be giving up his position as CFO from October 31, after six years at the helm of the company’s finances.

However, he will continue as a member of the board and will be responsible for three key businesses — Infosys BPO, Finacle and the India Business Unit.

The company had posted a net profit of Rs. 1,906 crore for the July-September quarter of the previous fiscal (2011-12).

“Global economic uncertainties continue to face the industry. We have increased employee wages, used some of our cash in a transformational acquisition of a consulting business and enhanced our investment in R&D and solutions,” Infosys CEO and Managing Director S.D. Shibulal said.

These initiatives will position us well in the industry and provide a strong platform for future growth, he added.

Rajiv Bansal, at present Vice-President (Finance) will take over as CFO from November 1, 2012, the filing said.



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