Infosys Q2 net profit up 9.8 percent, beats estimates

MUMBAI (Reuters) - Infosys Ltd , India's second-largest software services exporter by revenue, reported a better-than-expected 9.8 percent increase in quarterly net profit, helped by a focus on high-end projects and as clients in the United States spent more.

Infosys, which provides IT services to clients such as Apple Inc , Volkswagen AG and Wal-mart Stores Inc , posted a net profit of 33.98 billion rupees ($525.07 million) in its fiscal second quarter to Sept. 30, compared with 30.96 billion rupees a year ago.

Analysts, on average, had expected a net profit of 32.89 billion rupees, according to Thomson Reuters data.

Infosys also said chief financial officer Rajiv Bansal has informed of his intention to resign and that M.D. Ranganath is replacing him.

 

($1 = 64.7150 rupees)

(Reporting by Devidutta Tripathy and Nivedita Bhattacharjee; Editing by Muralikumar Anantharaman)