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Infosys Q2: Ups FY07 guidance, rev to cross $3bn

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Our Web Bureau Mumbai
Infosys today raised its FY07 topline guidance to Rs 13,853-13,899 crore as against Rs 13,350 - 13,400 crore estimated at the end of the first quarter.

According to a release issued by Infosys to the BSE today, the company's full year EPS expectation as per Indain GAAP now stands at Rs 66, a year-on-year growth of 46.6%.

For the quarter ending December 2006, the company expects income in the range of Rs 3,602- 3,625 crore, a y-o-y growth of 42.3-43.2%. EPS is expected to be Rs 16.84.

Nandan Nilekani, CEO and managing director of Infosys, said: "Our business model provides a compelling value proposition to clients in a flat world. We have revised our guidance to cross $3 billion in revenue this fiscal."

"We saw strong double-digit sequential growth during the quarter," S Gopalakrishnan, COO, president and joint managing director, said. "Package implementation, testing, consulting and business process management services are growing fast. We have built the necessary scale and momentum into these services for rapid growth."

Infosys reported a 53.3% rise in Q2 consolidated net profit at Rs 929 crore when compared with Rs 606 crore reported in Q2FY06. In doing so, the company has gone past its own expectaions of Rs 834.05 - 842.31 crore.

Total revenue for September 2007 quarter grew 50.43% to Rs 3,517 crore from Rs 2,338 crore in the corresponding quarter last year. The company expectation was around Rs 3,257 - 3,280 crore.

The company declared an interim dividend of 100% i.e Rs 5 per share.

 

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First Published: Oct 11 2006 | 7:33 PM IST

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