India's second largest software exporter, Infosys today reported 21.57% growth in consolidated net profit to Rs 28.86 billion for the quarter ended Jun. 30, 2014 as compared to Rs 23.74 billion in the same period last year. On quarter on quarter basis, it posted a fall of 3.5% in the net profit. Market was expecting profit to come at Rs 26.67 billion.

Revenues has increased to Rs 127.7 billion for the quarter ended Jun. 30, 2014 from Rs 112.67 billion for the quarter ended Jun. 30, 2013, representing an increase of 13.3%. On quarter on quarter basis, it posted a fall of 0.8% in the revenues.

''FY15 revenues expected to grow 7%-9% in USD terms; 5.6%-7.6% in INR terms,'' it said.

Infosys and its subsidiaries added 61 clients during the quarter. Gross addition is at 11,506 employees during the quarter. The company is having 161,284 employees as on Jun. 30, 2014.

''We continue to enjoy the confidence of our clients by demonstrating superior execution capability and value realization.'' said S D Shibulal, CEO and managing director. ''As I transition the CEO mantle to Vishal, I am confident that he will leverage this strong foundation to take Infosys to greater heights. I wish him the very best.''

''We saw positive trends in our large deal wins during the quarter. We believe that this momentum will hold us in good stead as we focus on increasing volumes.'' said U B Pravin Rao, COO. ''Employee attrition rates are worrisome and we are implementing various initiatives to retain good talent.''

''We improved operational performance as a result of our cost optimization initiatives and a focus on increasing productivity and utilization. This partially offset the impact of compensation increases for our employees this quarter.'' said Rajiv Bansal, CFO. ''It will help us invest in areas that will accelerate growth.''

Shares of the company gained Rs 84.10, or 2.62%, to trade at Rs 3,378.80. The total volume of shares traded was 41,553 at the BSE (9.24 a.m., Friday).