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Infosys Posts Surprise 3.3% Rise In Q2 Profit

Analysts on average had expected a net profit of Rs 35.23 billion

Photo Credit : PTI

1503148244_alEK2g_Infosys.jpg

Infosys, India's second-biggest software services exporter, reported a surprise 3.3 percent rise in second-quarter profit, beating analysts' estimates.

Profit rose to Rs 37.26 billion ($573.03 million) in the three months ended September 30, from Rs 36.06 billion a year earlier, Infosys said on Tuesday.

Analysts on average had expected a net profit of Rs 35.23 billion, according to Thomson Reuters data.

Revenue from operations rose 1.5 percent to Rs 175.67 billion.

The results are the first since Vishal Sikka quit Infosys as CEO in August after a lengthy feud between the board and the company founders that also led to a reorganisation of the board. Nandan Nilekani, a co-founder and a former CEO, was named chairman with the company continuing to search for a new CEO.

(Reuters)


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infosys nandan nilekani vishal sikka