Infosys Technologies, India’s second largest software services exporter, has posted a 17.2 per cent increase in net profit to Rs 1,527 crore for the first quarter ended 31 March, 2009 when compared with the corresponding quarter a year ago.

Total Income for the first quarter has increased by close to 12.7 per cent to Rs 5,741 crore. Net profit for quarter ending June was Rs 1,527 crore, 17% higher than Rs 1,302 crore in the same period a year ago. How-ever, it was down 5.3% against March quarter levels of Rs 1,613 crore.

Infosys, India’s second biggest software exporter by revenues, beat street forecasts by posting a 17% jump in year-on-year net profit for the quarter to June, 2009 but economic challenges, pricing pressures and lower technology spend by major clients pushed the tech bellwether to lower its quarterly and annual revenue guidance.

The firm, while adding 27 new clients this quarter, had 569 active customers this quarter, down from 579 in the previous quarter. To boot, revenue contribution from one of its marque clients, slipped to 4.5% from 5.7% in the current quarter. Shibulal says Infosys had 19 $50-million plus clients for the June quarter. He pointed out that employee utilization rate had come down to 70.9% against 74.5% in the March end quarter.

Meanwhile the stock has reacted positively, and surged 3.5% in early trades. The stock is now trading at Rs 1,735 as against its yesterday’s close of Rs 1,677. The counter has seen healthy trades of around 166,830 shares so far on the BSE as against its two-week daily average traded volume of 15,350 shares.