Infosys Q1 profit up 21.6 pct, beats estimates

BANGALORE, July 11 Thu Jul 10, 2014 11:36pm EDT

BANGALORE, July 11 (Reuters) - Infosys Ltd, India's second-largest software services exporter, posted a 21.6 percent increase in quarterly net profit, beating estimates, as it won new outsourcing contracts from overseas clients.

Consolidated net profit for the quarter ended June 30 rose to 28.86 billion rupees ($480.20 million) from 23.74 billion rupees in the same year-ago period, Bangalore-based Infosys said in a statement on Friday.

The profit of Infosys, whose customers include BT Group Plc , Bank of America and Volkswagen AG, compares with 26.72 billion rupee average of analyst estimates, according to Thomson Reuters data.

($1 = 60.1000 Indian Rupees) (Reporting by Lehar Mann and Soham Chatterjee; Writing by Nivedita Bhattacharjee; Editing by Sumeet Chatterjee and Miral Fahmy)