IT bellwether Infosys Limited has dipped 5% at Rs 2,733 after reporting a 5.3% quarter-on-quarter decline in consolidated net profit at Rs 1,722 crore for the first quarter ended June 30, 2011 under IFRS.
The company had a net profit of Rs 1,818 crore in the March quarter of the previous fiscal (2010-11), Infosys said in a filing to the Bombay Stock Exchange. On a year-on-year basis, the company has reported a 15.7% growth in net profit.
The consolidated revenue of the country's second largest software exporter rose 3.2% at Rs 7,485 crore over the preceding quarter.
The company and its subsidiaries added 26 clients and 9,922 employees (gross) during the recently concluded quarter.
“Our top five clients grew by 8.2% in this quarter. Volumes grew by 4% as a result of tactical engagement with large clients,” said S D Shibulal, member of the board and chief operating officer.
The IT major expected 2.5% to 0.9% year-on-year decline in earning per share (EPS) for the quarter ended September 30. EPS will be in the range of Rs 29.64 and Rs 30.15. Revenues will grow 10.8%-12.4% and to be in the range of Rs 7,699 crore and Rs 7,810 crore in Q2FY12.
For the full year ended March 2012, the company expected y-o-y growth of 7.3-8.9% in EPS to be in the range of Rs 128.20 and 130.08. Revenues will grow 15.5%-17.5% at Rs 31,777 crore and Rs 32,311 crore, the company said.
The stock opened at Rs 2,850 and hit a low of Rs 2,772 on the NSE. A combined 350,000 shares have changed hands on the counter on opening deals.
