Infosys net up 21 percent in first quarter

Infosys Technologies Ltd posted net profit of Rs.13.02 billion for the first quarter (April-June) of this fiscal (2008-09), registering 21 percent growth year-on-year (YoY) over the last fiscal (FY 2008) at Rs 10.8 billion.

In a notification to the stock exchanges on Friday, the IT bellwether said consolidated income for the quarter under review (Q1), was Rs.48.5 billion, posting 29 percent YoY growth over the corresponding period of last fiscal at Rs.37.7 billion, as per the Indian accounting practice.

Under the US accounting practice, net income rose by 16 percent to $306 million from $263 in the same period and consolidated income by 24.5 percent to $1.16 billion from $928 million in the corresponding quarter a year ago.