Infosys cash rises 25% to Rs 17,388 cr in Q2

IT giant Infosys Technologies today said its cash and cash equivalents rose by 25.58 per cent to Rs 17,388 crore for the quarter ended September 30, 2010.

As on September 30, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits was Rs 17,388 crore, as against Rs 13,846 crore on September 30, 2009, the software exporter said in a filing to the Bombay Stock Exchange.

"Our operating margins improved during the quarter while our liquidity position was further strengthened with cash and cash equivalents reaching USD 3.9 billion," Infosys Technologies CFO V Balakrishnan said.

The company today announced a growth of 13.15 per cent in its consolidated net profit at Rs 1,737 crore for the second quarter ended September 30, 2010.

Total revenues rose to Rs 6,947 crore during the quarter, against Rs 5,585 crore in the same period previous fiscal.

"However, the continued global economic uncertainty, coupled with extreme currency volatility is a concern for the industry," Balakrishnan added.
    
The company made a net addition of 7,646 employees, taking its total headcount to 1,22,468 employees as on September 30, 2010.
    
"There are significant drivers for investment in Information Technology since any transformation program to build tomorrow's enterprises' requires these investments to be made," Infosys Technologies CEO and MD S Gopalakrishnan said added.
  
Shares of Infosys Technologies were trading at Rs 3,137.55 on the BSE, down 1.47 per cent from previous close.