Infosys Q2 profit went up
The company backed its fiscal year revenue forecast and the board recommended a bonus issue. Net profit for the quarter increased to $511 million from last year's $383 million. Earnings per share were $0.89 compared to $0.67 in the prior year.
Revenues for the quarter advanced to $2.201 billion from $2.066 billion. Analysts expected revenues of $2.20 billion. In Indian rupee terms, profit climbed to 30.96 billion rupee from 24.07 billion rupee in the prior year. Revenues increased to 133.42 billion rupee from 129.65 billion rupee.
Looking ahead to the fiscal year ending March 31, 2015, the company expects IFRS revenues to grow 7 to 9 percent in dollar terms. Further, the company declared an interim dividend of 30 rupee per share, payable on October 17.
Additionally, in a meeting held on October 10, the board recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share or ADS for every ADS held, as on a record date yet to be determined.
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