Infosys Q1 net rises 33 per cent to Rs2,289 crore

Infosys Ltd has posted a 32.92 per cent rise in its net profit for fiscal quarter ended 30 June 2012, much in line with industry expectations. The country's second-largest software services company today reported a net profit of Rs2,289 crore on a consolidated basis.

This compares with a net profit of Rs1,722 crore for the similar quarter of the previous financial year, Infosys said in a regulatory filing.

The Bangalore-based company failed to meet dollar revenue guidance of $1,771-1,789 million for the quarter, even though it exceeded revenue forecasts in rupee terms with the fall in rupee value.

Infosys expects revenue in dollar terms to rise 5 per cent to $7.34 billion in the fiscal year ending March 2013, down from its April estimate of 8-10 per cent growth.

This is against the earlier guidance of $7.55-7.69 billion.

The company's shares fell 9.42 per cent to Rs2,233.95 on the BSE following the decline in dollar forecast for FY 2013.