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Journalism of Courage
India’s second-largest software services exporter Infosys on Friday posted a higher-than-expected 28.6 per cent rise in its second quarter net profit and announced that it was issuing bonus shares and an interim dividend.
The company announced an interim dividend of Rs 30 per share which is equivalent to approximately $0.49 per American Depositary Share.
Revenues, in rupee terms, during the quarter rose 2.9 per cent year-on-year to Rs 13,342 crore, while in dollar terms it posted a growth of 6.5 per cent at $2,201 million. The firm registered Rs 3,096 crore net profit for the reporting quarter, which is also the first three-month period under its new CEO Vishal Sikka, posting a 7.3 per cent sequential rise.
The company maintained its revenue guidance at 7-9 per cent for the year ending in March 2015, meeting analyst expectations. Sikka who took over the reins of the company on August 1 said the company was seeing “early positive results’’ for a strategy of tapping into the digital transformation needs of businesses.
“We have been able to improve our margins during the quarter and feel confident of sustaining these within a narrow band. This is giving us increased confidence to make the investments required to meet our growth aspirations,” CFO Rajiv Bansal said.
