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Infosys Q2 Profits Raise with 24.29%

One of leading IT company, Infosys jumped in combined net profit with 24.29 percent to Rs 2, 369 crore for the second quarter finished September 30. The IT major’s revenues were rise up 21.7 per cent to Rs 9,858 crore in the second quarter from Rs 8,099 crore in the previous year period, Infosys declared in a BSE filing. V Balakrishnan, Company CFO, will be serving up as CFO from October 31, after six years at the wheel of the company's assets. However, he will keep on as a member of the Board and will be accountable for three key businesses such as Infosys BPO, Finacle and the India Business Unit. The company had placed a net profit of Rs 1,906 crore for the July-September quarter of the earlier financial year (2011-12). "Global economic uncertainties carry on facing the industry. We have improved employee salary, used some of our money in a transformational attainment of a consulting business and improved our investment in R&D and solutions," Infosys CEO and Managing Director S D Shibulal said. These proposals will place us well in the industry and give a strong platform for future development, he added. Rajiv Bansal, at current Vice President (Finance) will take over charges as CFO from November 1, 2012, according to filing. For Financial Year 2012-13, the company supposed it anticipates its rupee profits to be at least Rs 39,582 crore (a year-on-year escalation of 17.3 per cent).

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