Infosys COO says Re volatility pinches Q3

Gopalakrishnan says that the company gained $10.3 million on account of the rupee's depreciation during the quarter.

Infosys Technologies Ltd's third-quarter net profit was impacted by the rupee's movement because of hedging costs, its chief operating officer said on Wednesday.

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Kris Gopalakrishnan said in an interview after the results that the company gained $10.3 million on account of the rupee's depreciation during the quarter, but lost $12.6 mn on hedging costs.

Infosys reported a 31 per cent rise in third-quarter net profit to 6.49 billion rupees ($147 million).

He said there was a slight uptick in offshore pricing.

"The pricing environment is stable with a slight upward bias, but there is competition," he said. "The secular trend on the business side continues. We are positive about the overall market. We are going to hold on to the margins."