EPS outlook for Q4 bearish, expected to fall by 9%.
Infosys Technologies, India's second-largest software services exporter, has reported a 3.6 per cent year-on-year (Y-o-Y) decline in net profit to Rs 1,582 crore for the third quarter ended December 31, 2009. Total income, too, saw a decline of close to 1 per cent to Rs 5,741 crore.
On a sequential basis, net profit grew by 2.7 per cent while the topline by 2.8 per cent, indicating some silver lines as the economy is trying to pull itself away from the recessionary quicksand.
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“Global economic recovery seems to be led by the US and the Financial Services,” said S Gopalakrishnan, CEO and managing director, Infosys. “Even though IT budgets are expected to be flat in 2010, offshore outsourcing is expected to benefit from this recovery.”
Earnings per share (EPS) decreased to Rs 27.75, showing a 3.2 per cent decline y-o-y and a 3.3 per cent growth on a sequential quarter basis. The company has said that going forward the EPS for the fourth quarter is expected to fall in the range of 8.3 to 9 per cent, while for the entire year there will be a marginal growth of around 2.5 per cent.