Infosys Q1 net rises 32.92%

Mumbai, PTI: Country's second largest software firm Infosys today reported a 32.92 per cent jump in consolidated net profit to Rs 22.89 billion for the first quarter ended June 30, 2012.

The company had posted a net profit of Rs 17.22 billion for the April-June quarter of the previous fiscal (2011-12), Infosys said in a filing to the BSE.

Reacting to the results, the scrip of Infosys tumbled 9.42 per cent to Rs 2,233.95 at the BSE from its previous close since it failed to meet its dollar revenue guidance and also cut its dollar forecast for FY 2013.

The company's revenues up 28.47 per cent to Rs 96.16 billion in the first quarter from Rs 74.85 billion in the year-ago period. In dollar terms, the company's revenue stood at USD 1,752 million against USD 1,671 million in the same quarter last year, up 4.8 per cent.

Though the company exceeded its revenues forecast in rupee terms, it failed to meet dollar revenue guidance of USD 1,771 million to USD 1,789 million for the quarter.

It had expected its rupee revenues to be in the range of Rs 90.11 billion and Rs 91 billion for April-June 2012.