April 13, 2012 / 14:41 IST
MUMBAI (Reuters) - Infosys, India's second-largest software services exporter, reported a 27.4 percent rise in quarterly net profit, meeting forecast, after customers ramped up orders to cut operational costs.
Bangalore-based Infosys said on Friday consolidated net profit for the fiscal fourth quarter ended March 31 rose to 23.16 billion rupees from 18.18 billion rupees a year earlier.
Infosys, which is also listed on the Nasdaq, was expected to post a 27.5 percent rise in profit in the quarter ended March to 23.18 billion rupees, according to Thomson Reuters data.
COMMENTARY:
R.K. GUPTA, MANAGING DIRECTOR, TAURUS ASSET MANAGAMENT CO., NEW DELHI
"The results are in line with what the market was expecting, but all eyes were on the guidance.
"Eight to 10 percent is an interesting guidance figure as normally Infosys is very conservative with their estimates. This figure makes me think that everything is well with the company.
"Not only for Infosys, this is positive for the sector and the wider market, and I expect the market to react accordingly." (Reporting by India equities team; Editing by Ranjit Gangadharan)
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