Infosys results: Q2 net profit at Rs 1906 cr, up 11%

Country's second largest software services exporter Infosys has reported a growth of 10.81% in net profit for the quarter ended September 2011, as per IFRS.

Net profit was at Rs 1,906 crore in second quarter of FY12 as against Rs 1,720 crore in previous quarter. It came above the street estimates; CNBC-TV18 expected profit at Rs 1,891 crore.

Moshe Katri, MD of Cowen and company said Infosys second quarter numbers were largely in-line with expectations. "For the first time in many quarters, we will not see sharp drop in Infosys stock."

Revenues increased 8.2% to Rs 8,099 crore as against Rs 7,485 crore during the same period. CNBC-TV18 expected it at Rs 8,080 crore.

Earnings per share for the July-September quarter of 2011 was at Rs 33.3 as against Rs 30.14 in the previous quarter. Expectation was at Rs 32.19.

Operating profit margins jumped to 28.16% versus 26.08% quarter-on-quarter. Net profit margins too moved up to 23.53% from 23% during the same period.

Dollar revenues growth for FY12 lowered to 17.1-19.1% as against earlier guidance of 18-20%.

Company has upped its full year guidance for earnings per share to Rs 143.02-145.26 as against earlier of Rs 128.20-130.08.

Infosys sees revenue for FY12 in the range of Rs 33,501-34,088 crore.

Q3 Guidance:

Company expects revenue at Rs 8,826-9,012 crore and earnings per share at Rs 38.51-39.20.