Infosys Technologies, India second largest software services exporter, has posted a 18.4 per cent  increase in net profit to Rs 1,100 crore (Rs 11 billion) for the second quarter ended September 30, 2007 when compared with Rs 929 crore (Rs 9.29 billion) in the same quarter last fiscal.

The company which sets the trend for the $33 billion software exports industry from India, has achieved this growth inspite of the strong appreciation of the rupee against the dollar.

Topline has moved up by 21 per cent to Rs 4,260 crore (Rs 42.60 billion) from Rs 3,517 crore (Rs 35.17 billion) by good volume growth exceeding its usual conservative guidance. Infosys [Get Quote] had guided the street that it would grow its topline for the second quarter in the range of 14.5 - 15.7 per cent on a year on year basis.

Infosys, going forward has guided that its topline will grow by 3.2 - 3.7 per cent on a sequential basis at the end of the third quarter.

For the entire year, Infosys has said that it will grow by 19.2 - 19.7 per cent by end of FY08 on a year on year basis.

Further, the company's board has declared an interim dividend of Rs 6 per equity share.

Kris Gopalakrishnan, CEO, Infosys Technologies announces the financial results for the quarter ended September in Bangalore

Photograph: Dibyangshu Sarkar/AFP/Getty Images