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Posted by Shyam as Results
Infosys Technologies, India’s second largest Software exporter has announced its quarterly results today. The revenues of the company is at Rs 6947 crores which is up by 24.4% Y-o-Y and 12.1% Q-o-Q. Net profit of the company stood at Rs 1,737 crores which is up by 13.2% Y-o-Y. The company managed to add 27 new clients in the quarter ending Sept 30,2010.
The company added 7,646 employees to its payroll in net and its employee strength now stands at 1,22,468. Infosys declared interim dividend of Rs 10 per equity share and a special 30th year dividend of Rs 30 per equity share. The record date is set to October 22, 2010.
Even though the results of the company were far better than expected, but the stock took a beating in the markets today and closed down by 3.39% or down by Rs 108 at Rs 3076 levels. This is basically due to the overall frenzy selling in the stock markets which closed down by 1.82% and 1.86% each in Sensex and Nifty due to make liquidity to subscribe for Coal India IPO in coming week. Investors with long term view can buy Infosys on dips for target of 3250-3300 in medium term. For more information on Infosys Q2 2010-11 Results, please check the link.
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