BANGALORE: Infosys Technologies Ltd., said before market hours on Thursday
net profit rose 24 per cent in October-December from a year ago, meeting
expectations.
The Indian software bellwether reported third-quarter profit of Rs 2.06
billion or Rs 31.02 per diluted share, against Rs 1.66 billion or Rs 24.86 a
share a year earlier.
Its profit exactly matched the median forecast of Rs 2.06 billion in a
Reuters poll released on Wednesday. The company forecasted earnings per share at
Rs 29 to 31.
Nasdaq-listed Infosys' total income rose 23.04 percent to 6.61 billion
rupees, slightly lower than the poll's estimate of 6.7 billion rupees but higher
than its own estimate of Rs 6.50 to 6.56 billion.
On Wednesday, Infosys' shares lost more than eight percent to end at Rs
4,430.75 on the Bombay Stock Exchange, whose key index shed a little more than
one per cent. Infosys' stock had surged 18 per cent since January 1 on increased
optimism that the software sector will recover in the near term.
Infosys adds 33 clients
Indian blue-chip software firm Infosys Technologies, which on Thursday reported
a 23.9 per cent year-on-year growth in October-December net profit, said it had
added 33 new clients during the quarter.
It had added 28 clients in the July-September quarter. Bangalore-based
Infosys said volumes in the quarter grew 3.4 per cent over the July-September
quarter, while prices fell 3.2 per cent.
(C) Reuters Limited.