Infosys Q2 net rises 10.7 pct, roughly in line with f`cast

Infosys Ltd, India's No. 2 software services exporter, reported a 10.7% rise in quarterly profit, roughly in line with expectations, as a weak rupee boosted margins.

Bangalore-based Infosys, said on Wednesday that consolidated net profit rose to 19.06 billion rupees (USD 387 million) for the fiscal second quarter ended September 30, from 17.22 billion rupees reported a year ago.

A Reuters poll of brokerages had forecast a profit of 18.91 billion rupees for the company, which counts Goldman Sachs, BT Group and BP among its main clients.

India's USD 76 billion showpiece IT sector, which feeds off increased outsourcing by companies looking to cut costs, is expected to face pricing pressure and a decline in new orders due to a struggling global economy.

Infosys, worth about USD 29 billion, has lost more than a quarter of its market value this year, versus a 25% fall in the sector index and a 19% fall in the Mumbai index.

(USD 1 = 49.3 rupees)