Infosys Technologies, the Second largest Indian IT company has come out with the second quarter results yesterday. The second quarter has been better than its previous one marginally due to the dollar movement.It has posted a net sales of $1,216 million up by 19% year on year. The profit is up by 10% Q-O-Q at Rs 1432 crores in Q2,2009. The revenues was up by 11.6% as against last quarter .

It has announced a 100% interim dividend on equity share of Rs 5 each.It has added 45 new clients and 10,795 employees in the last quarter ending Sept 30th 2008. The guidance for the Q3 has been on a bit more cautious approach at 1175 million $ in Q3 a degrowth of 3.4 % from 1220 million dollars. And its really tough times ahead for all the sectors and IT sector in general given such a turmoil going on in the US markets and the world over.

The stock price of Infosys were beaten along with the other stocks in the market when it fell by 800 points. But it managed to close at 1227 crores down by 2.2% from its previous close. Hopefully when the markets recover Infosys would be one stock to look for.

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