Indian outsource group Infosys has informed that it would not raise the bid price of 600 pence a share for UK-based Axon, a move which rules it out from the battle to acquire the SAP firm.

After careful consideration, the board of Infosys has concluded this final decision, that it will not increase the price of its original offer dated August 25, 2008.

Last month, HCL Technologies had increased the bid to 650 pence per share for Axon valuing the company at 441.1 million pounds, at a premium of 8.3 per cent to Infosys' bid, worth 407.1 million pounds.

The Company is confident that its decision will have no material impact on its strategic plans. Today, Infosys has announced a net profit of Rs 1390 crore in the quarter ended September 2008, an increase by 29.42% as against Rs 1074.00 crore during the previous quarter ended September 2007.

Apart from this, the board of Infosys Technologies at meeting held today, has also declared interim dividend at the rate of 200%.