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India's Infosys posts surprise 3.3 pct rise in Q2 profit
October 24, 2017 / 10:29 AM / 2 months ago

India's Infosys posts surprise 3.3 pct rise in Q2 profit

Oct 24 (Reuters) - Infosys Ltd, India’s second-biggest software services exporter, reported a surprise 3.3 percent rise in second-quarter profit, beating analysts’ estimates.

Profit rose to 37.26 billion rupees ($573.03 million) in the three months ended Sept. 30, from 36.06 billion rupees a year earlier, Infosys said on Tuesday. bit.ly/2iviVpc

Analysts on average had expected a net profit of 35.23 billion rupees, according to Thomson Reuters data.

Revenue from operations rose 1.5 percent to 175.67 billion rupees.

The results are the first since Vishal Sikka quit Infosys as CEO in August after a lengthy feud between the board and the company founders that also led to a reorganisation of the board. Nandan Nilekani, a co-founder and a former CEO, was named chairman with the company continuing to search for a new CEO.

$1 = 65.0225 Indian rupees Reporting by Tanvi Mehta and Jessica Kuruthukulangara in Bengaluru; Editing by Muralikumar Anantharaman

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