Infosys Q2 net up 10% QoQ; cuts guidance

Infosys Technologies Ltd. announced financial results for the fiscal second quarter ended September 30, 2008. The Bangalore-based IT major has posted a consolidated net profit of Rs14.32bn versus Rs13.02bn in the previous quarter. This translates into a sequential growth of nearly 10%. Consolidated revenue for the reporting quarter is at Rs54.18bn, up 11.6% over the April-June quarter. Income was expected to be in the range of Rs52.29bn and Rs52.72bn. Earnings per share (EPS) for the second quarter has increased to Rs 25.02 from Rs22.75 in the first quarter. The EPS was expected to be in the range of Rs 23.52 and Rs 23.95.