Infosys, the top IT company of
Infosys reported a consolidated profit of Rs.14,88 crore in the first quarter that ended on June 30, 2010. The company posted a consolidated profit of Rs.1,525 crore at the same time last year. Revenue for the June 2010 quarter was at Rs.6,918 crore an advancement of 13.3% against Rs.5,472 crore at the same time last year.
In the last quarter of FY 2009-10, that ended on March 31, 2010, Infosys posted a standalone net profit of Rs. 1,430 crore against a standalone net profit of 1,431 crore in the first quarter of FY 2010-2011.
Net sales for the June quarter was at Rs.5,758 crore against Rs.5,500 crore in the quarter ended on March 31, 2010.
After the news, Infosys stock prices fell 2.90 percent to Rs.2,812 at NSE. It saw an intraday high of Rs.2,875 and a low of Rs.2,797.
The financial result of Infosys also affected the IT stock index at BSE. BSE IT Index slipped 2.29 percent. Wipro slipped 1.66 percent, Tata Consultancy Services 1.59 percent, Tech Mahindra 1.47 percent, Mphasis 1.45 percent, HCL Tech 1.33 percent.
Despite such big, loss the company is expecting higher revenue by the end of the year. It expects a growth in demand among its overseas clients.
The net addition of employees stood at 1,026 while the gross addition in the first quarter stood at 8,859. The company added 40 new clients to its books.