Infosys Technologies — the country’s second largest software company — posted a marginal 0.9 per cent dip in its consolidated net profit for the quarter ended March, compared to the same period a year ago. However, a better-than-expected prediction for 2010-11 saw the company's share price spurt 3.7 per cent to Rs 2,782 at the Bombay Stock Exchange today.
Infosys posted a consolidated net profit of Rs 1,600 crore for the quarter, against Rs 1,615 crore in the comparable quarter last year. Revenues during the quarter were up 5.5 per cent to Rs 5,944 crore.
On an annual basis, the company posted a 4.1 per cent increase in net profit to Rs 6,219 crore, on a revenue of Rs 22,742 crore, a growth of 4.8 per cent over the previous year. This, despite an appreciating rupee.
“Though the economic environment continues to be challenging, businesses are investing in growth for building a better future. We are benefiting from that,” said S Gopalakrishnan, CEO & MD, Infosys Technologies.
The company expects income to grow by 9-11 per cent in 2010-11, while earnings per share (EPS) is expected to be in the range of Rs 106.82 and Rs 111.28, which would mean a dip of 2 per cent or a growth of 2.1 per cent compared to EPS a year ago. The company has typically surpassed its guidance. For 2009-10, the company has posted EPS of Rs 108.9, nearly 2 per cent more than the upper end of forecast.
In the current quarter, Infosys expects revenue to grow 8.2-9 per cent, while EPS is expected to be in the range of Rs 24.34-24.79, which is a decline of 9 per cent or a gain of 7.4 per cent compared to the year ago numbers.
