Reacting to the results, the Infosys scrip gained 8 per cent on the Bombay Stock Exchange, from Rs 2,004 last Friday to Rs 2,162 yesterday. Over the last three months, the scrip has almost doubled in value and the results have justified the market's optimism.
Compared with the performance of first quarter of 1996-97, net profit has increased by a whopping 102.6 per cent to Rs 9.22 crore, while the total income increased by 73.32 per cent to Rs 45.81 crore.
The income from overseas operations contributed 95.5 per cent to its total income. However, other income showed a decline of 63.84 per cent to Rs 47 lakh.
Infosys is a zero-debt company with no interest burden. Depreciation increased considerably by 81.12 per cent to Rs 3.55 crore. This may be due to the commencing of operations of its Mangalore facilities.
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