IT services giant Infosys today reported a 25 per cent jump in its consolidated net profit for the quarter ended March 31, 2014, helped by large deals and an uptick in client spending.
The Bangalore-based firm posted a consolidated net profit at Rs 2,992 crore for the fourth quarter of last fiscal from Rs 2,394 crore in the year-ago period.
Revenue for the reported quarter rose 23.2 per cent to Rs 12,875 crore from Rs 10,454 crore.
However, the country's second largest software services exporter said it expects its US dollar revenues to be in the range of 7-9 per cent for the 2014-15 fiscal, which is way below industry body Nasscom's projection of 13-15 per cent.
Even in rupee terms, the firm gave a revenue guidance of 5.6-7.6 per cent for the current financial year.
Reacting to the results, Infosys opened the day on a positive note and gained 4 per cent to Rs 3,371.80 at the BSE. However, by 11:30 AM the scrips lost their initial gains and were trading at Rs 3,286.40 apiece, up by 1.50 per cent.
Commenting on the guidance, Infosys CEO and Managing Director S D Shibulal said: "As we have said in the past, our guidance is a statement of fact. We are coming out from a low momentum quarter, Q4 as well as Q3.
"We have said that some of the challenges that we faced in Q3 and Q4 will continue to be there during the coming year. We have factored in all those things when we have given a guidance of 7-9 per cent. Thats how we see things today."
He added that the firm has been able to double its growth rate for the full year (2013-14) compared to last year, while stating that performance in Q4 FY 2014 has been disappointing.
