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Infosys, India's second largest software exporter, surprised the street with better-than-expected net profit while revenues were in line.

The company reported a net profit of Rs 2,886 crore for quarter ended June 2014, down 3.5 per cent, compared to Rs 2,992 crore in the previous quarter. 

Infosys operating margins at 25 per cent were 250 basis points ahead of estimates. Analysts had estimated margins to drop on the back of salary hikes and rupee appreciation.

Dollar revenues grew to $2113 million, lower than estimates of $2142 million, but Infosys retained its FY15 revenue growth outlook at 7-9 per cent.

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