Infosys net up 3.7 percent in first quarter

Bangalore : Infosys Ltd posted Rs.2,374 crore (Rs.23.7 billion) net profit for the first quarter (April-June) of this fiscal (2013-14), registering a marginal increase of 3.7 per cent year-on-year (YoY) as per the Indian accounting standards.

In a regulatory filing Friday, the global software major said consolidated revenue for the quarter under review (Q1), however, grew 17 percent YoY to Rs.11,267 crore (Rs.112.7 billion).

Under the International Financial Reporting Standard (IFRS), net income at $418 million was fractionally (0.5 per cent) up from $416 million year ago and revenue grew 2.7 percent YoY to $1.99 billion for the quarter.