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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (7958)10/8/1999 1:57:00 AM
From: Mohan Marette  Read Replies (1) of 12475
 
Infosys does it again, Q2 Net jumps by 131%

1999-10-08 10:46:52 (Probity Research)

Infosys Technologies earned a net profit of Rs657.1mn for the second quarter ended September 1999, the profits are in line with the market expectation of between Rs650mn to Rs700mn. The total income for the quarter is Rs2.18bn. The net profit for the six months of the current financial year works out to Rs1.26bn and total revenue to Rs4.02bn. The company has also for the first time announced an interim dividend of Rs3 per share. Infosys has earned an income from overseas of Rs2050.7mn against Rs1181mn an increase of 73.64%. The company's EPS for the second quarter stood at 22 cents against 10 cents for its American Depositary Receipt (ADR).

Infosys has set aside Rs35mn in the second quarter towards restructuring E-Commerce, though details are yet awaited. The company has earned Rs52.4mn as foreign exchange though the break-up of other income is not known yet and it is possible that some income can be attributed to interest income on ADRs, exchange rate difference income and provisioning. However the stock was lower at Rs8110, down Rs135 from yesterday`s close. The stock price fell following a drop in US$8 in the price of Infosys on Nasdaq, also the company`s net profit increased by 131% against 150% in the first quarter of the current year.

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