Board member of Indian firm Infosys exits shares worth INR7.46 crore

January 21
3:59 AM 2014

Indian IT services firm Infosys announced that Board of Directors member Srinath Batni has exited 20,000 of the company's shares today. The said shares are valued at INR7.46 crore, according to The Economic Times.

Batni joined Infosys in 1992. At present, he is also the company's Head of Delivery Excellence, the report said.

Based on a document filed with the Bombay Stock Exchange (BSE), Batni sold 20,000 shares of the Bangalore-based firm at the BSE. After the transaction, Batni's stake in the company fell to 0.095% (549,847 shares). The filing also said Batni had earlier held a 0.099% interest (569,847 shares) in the IT firm, the report detailed.

Earlier in January, Infosys posted a 21.4% increase in its net profit to INR2,875 crore in the quarter that ended on December 31. A year earlier, the firm posted a net profit of INR2,369 crore for the same period. During the period under review, the company's revenue climbed by 25% to INR13,026 crore from the previous INR10,424 crore, The Economic Times reported.

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