Infosys Q2 net up 10.8 percent to Rs 1,906 cr

IT major Infosys reported a growth of 10.8 percent in net profit at Rs 1,906 crore for the quarter ended September 30, 2011. In the previous quarter it was Rs 1,720 crore.Revenues jumped 8.2 percent to Rs 8,099 crore as against Rs 7,485 crore, quarter-on-quarter basis. Earnings per share rose 33.36 percent in the quarter ended September 30, 2011."The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry. In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments," Infosys CEO and Managing Director S D Shibulal said in a statement.Infosys' strategic initiatives and organizational structure will enable it to build long-term partnerships with clients and help drive their business objectives, he added.Revenues are expected to be in the range of Rs 8,826 crore to Rs 9,012 crore for the quarter ending December 31, a year-on-year growth of 24.2 percent to 26.8 percent.For the fiscal ending March 31, 2012, it has estimated revenues of Rs 33,501 crore to Rs 34,088 crore, a y-o-y growth of 21.8 percent to 24 percent, the statement said.The company's board has proposed an interim dividend of Rs 15 per equity share.Infosys saw the gross addition of 15,352 employees during the quarter, while net additions amounted to 8,262 people. The total headcount of Infosys and its subsidiaries stood at 1, 41,822 employees as of September 30, 2011.The company added 45 clients during the reporting quarter. In terms of growth from regions, North America grew by 6.2 percent sequentially, Europe grew by 0.8 percent sequentially; and rest of the world grew by 5.8 percent.As on September 30, 2011, Infosys' cash and cash-equivalents, including investments in available-for-sale financial assets and certificates of deposits, stood at Rs 18,601 crore, as against Rs 17,388 crore on the corresponding day last year."The global currency market continues to remain highly volatile on the back of the weak economic recovery in most of the developed markets," Infosys Member of the Board and Chief Financial Officer V Balakrishnan said.The continued focus on adding measurable value to clients, coupled with Infosys' flexible financial model, will enable the company to make the right investments without compromising on high-quality growth, he added.On a standalone basis, the company has reported a growth of 11 percent y-o-y in net profit to Rs 1,822 crore.