BANGALORE: Infosys Technologies Ltd. on Friday declared an interim dividend
of 30 per cent. The company here announced its results for second quarter ending
September 30, 1999, which showed 80 per cent increase in total income against
the corresponding period during the previous year.
The total income during the second quarter of the current financial year was
Rs 217.88 crore against Rs 120.44 crore posted during the corresponding period
last year. Total expenses rose to Rs 131.95 crore against Rs 78.38 crore.
Profit before interest, depreciation and tax rose by 104.3 per cent to Rs
85.93 crore (Rs 42.06 crore in the corresponding period of the previous year).
While depreciation has risen to Rs 10.72 crore (Rs 7.41 crore) and no provision
has been made for interest this quarter too. Rs 9.50 crore (Rs 6.25 crore) has
been set aside for taxation. The net profit has gone up by 131 per cent to Rs
65.71 crore (Rs 28.40 crore).
The company said that it had made a provision of Rs 3.50 crore during the
second quarter towards e-commerce related work. Infosys
joint managing director N.S. Raghavan has expressed his desire to quit his post,
which has been accepted by the board. He will retire with effect from February
7, 2000.
The record date for payment of dividend would be November 12, 1999. Infosys
opened the day on the Bombay Stock Exchange at Rs 8,245.75 and touched a high of
Rs 8,720 and a low of Rs 8,000.15 by noon. The last traded price of the scrip
was Rs 8,488.