Infosys grows fiscal Q2 revenue 15%
Bnamericas Published: Friday, October 11, 2013
Indian IT services firm Infosys' (Nasdaq: INFY) revenue grew 15.0% in the company's fiscal Q2, ended September 30, to US$2.07bn from US$1.80bn in the year-ago quarter, the firm said in its quarterly results release. Net profit for the quarter was US$383mn, down 11.1% from US$431mn in fiscal Q2 last year. "The global currency market remains volatile with the Indian rupee depreciating by 11% during the quarter [but] we have an active hedging program to minimize its impact on our margins," said Infosys CEO Rajiv Bansai. Including its subsidiaries, the company, which is expecting revenues to grow 9-10% for the full fiscal year (ending March 31, 2014), added 68 new clients in the quarter on top of the 66 it added in the previous quarter. Infosys has more than 50 offices worldwide, while in Latin America it has physical operations in Brazil and Mexico.
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