BANGALORE: Infosys Technologies Limited has announced a total income of Rs 465.67 crore for the second quarter ended September 30, 2000, a 113.73 per cent increase over total income of Rs. 217.88 crore for the quarter ended September 30, 1999. Net profit from ordinary activities for the quarter was Rs 154.01 crore, a 134.38 per cent increase over the corresponding amount of Rs 65.71 crore for the quarter ended September 30, 1999.
The Board of Directors of the company declared an interim dividend of Rs 2.50 per share (50 per cent on par value of Rs 5 per share). The total income for the half-year ended September 30, 2000 was Rs 836.32 crore, a 108.08 per cent increase over Rs 401.94 crore for the corresponding period in the previous year. Net profit from ordinary activities was Rs 275.32 crore, a 117.95 per cent increase over the corresponding amount of Rs 126.32 crore for the half-year ended September 30, 1999.
According to the company, fluctuations in exchange rates during the quarter, with reference to the exchange rates as on March 31, 2000, led to an increase in income from software development of Rs 14.92 crore. Other income of Rs 19.57 crore for the quarter includes Rs 9.68 crore arising from exchange differences on the translation of foreign currency deposits maintained abroad, which may be non-recurring. Excluding such exchange differences, the net profit after tax before extraordinary item was Rs 144.33 crore, an 125 per cent increase over the net profit of Rs 64.06 crore for the quarter ended September 30, 1999.
The Board of Directors, at their meeting held on Tuesday, co-opted Prof. Jitendra Vir Singh, Vice Dean, International Academic Affairs, Wharton School, University of Pennsylvania as an Additional Director of the Company with effect from October 10, 2000. Prof. Jitendra Vir Singh will hold office up to the date of the next Annual General Meeting, when his appointment as a director will be placed for the approval of the members in the general meeting.
The company added another 2.5 acres of land at its corporate headquarters in Bangalore towards the development of Infosys Park, Phase III this quarter. As at September 30, 2000, Infosys had 240 active clients, of which 27 were new clients, added in the quarter.
The excellent results of the company failed to provide the much needed boost to the stock market. In line with the downward trend, the scrip was down by 88.65 points at Rs 7309.90 when reports last came in.