BANGALORE, INDIA: Infosys Technologies has posted net profit of Rs 1,432 crore for the second quarter ended September 2008 with 30.2 per cent growth over last year's net profit of Rs 1100 crore.

Revenues for the second quarter were at Rs 5,418 crore with a year-on-year growth of 32 percent. Earnings per share increased to Rs. 25.02 from Rs. 19.26 in the corresponding quarter in the previous year.

"We have revised our US dollar revenue guidance to reflect the current economic situation and the drastic depreciation of major global currencies against the US dollar," said S. Gopalakrishnan, CEO and Managing Director. "The challenging environment provides interesting opportunities for transformational service providers like us."

"We added 40 clients during the quarter," said S.D. Shibulal, Chief Operating Officer. "Despite adverse market conditions, our pricing remained stable during the last quarter."

Providing the business outlook for the third quarter, the company said that its income is expected to be in the range of Rs 5,519 crore and Rs 5,730 crore. Earnings per share is expected to be Rs. 26.63 during the same period, said the company.

For the fiscal 2009, income is expected to be in the range of Rs. 21,309 crore and Rs. 21,731 crore with Y-o-Y growth of 27.7 per cent – 30.2 per cent, Infosys said.

"We benefited from the depreciation of the rupee against the US dollar during the quarter which was partially offset by the sharp appreciation of the US dollar against all other major currencies," said V. Balakrishnan, Chief Financial Officer. "Our liquidity position continues to be strong with cash and cash equivalents reaching $1.9 billion."

During the quarter, the company added 10,117 employees (net 5,927) with this, Infosys and its subsidiaries employ 1,00,306 people as on September 30, 2008.

"We reached a milestone of crossing 1,00,000 employees," said T. V. Mohandas Pai, Member of the Board and Head – HRD and Education & Research. "We continue to be an employer of choice. Our significant investment in training has enabled us to continuously enrich our human capital."

The company also announced an interim dividend of Rs. 10 per share ( 200 per cent on par value of Rs. 5 per share) compared to Rs. 6 for the corresponding period in the previous year.