Infosys Q2 net rises 18 pct, meets forecast

BANGALORE, Oct 11 (Reuters) - Infosys Technologies Ltd (INFY.BO: Quote, Profile, Research, Stock Buzz), India's No. 2 software services exporter, posted an 18 percent rise in quarterly profit on Thursday, meeting forecasts as the rupee's rise to 9-½ year highs limited gains from new contracts. Infosys, whose clients include ABN AMRO AAH.AS, Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) and Royal Philips Electronics (PHG.AS: Quote, Profile, Research, Stock Buzz), said its net profit rose to 11.0 billion rupees ($280 million) in the quarter ended September, its fiscal second quarter, from 9.3 billion rupees a year earlier. A Reuters poll of 12 brokerages had estimated a net profit of 11.0 billion rupees for Nasdaq-listed Infosys (INFY.O: Quote, Profile, Research, Stock Buzz), which ranks behind Tata Consultancy Services Ltd (TCS.BO: Quote, Profile, Research, Stock Buzz) in India's $31.4 billion software services exports industry.

The rupee <INR=IN>, which rose more than 2 percent against the dollar in the quarter and has risen more than 12 percent this year, is a worry for India's export-focused software services firms that get more than half of their revenue from the U.S.

Shares in Infosys, which develops software applications, designs supply chains and offers back-office services, fell 1.7 percent in July-September, sharply underperforming an 18 percent rise in the main index .BSESN.

The sector index shed nearly 5 percent in the quarter on worries earnings growth could slow due to the rupee, soaring staff wages and a slowdown in U.S. economy. ($1=39.3 rupees)