Friday, January 11, 2013

Infosys Q3 net dips marginally

MUMBAI, January 11, 2013 PTI

Infosys on Friday reported a marginal drop of 0.12 per cent in net profit to Rs 2,369 crore for the third quarter ended December 31, 2012.

However, the revenues (including that of acquired Swiss firm Lodestone) for the reported quarter were up 12.1 per cent to Rs 10,424 crore from Rs 9,298 crore in the year—ago period, Infosys said in a BSE filing.

"We have done well in this quarter despite an uncertain environment. We continue to gain confidence from a strong pipeline of large deals," Infosys CEO and Managing Director S D Shibulal said.

"However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January—March quarter," he added.

The company had posted a net profit of Rs 2,372 crore for the October—December quarter of the previous fiscal (2011—12).

After slashing its revenue forecast earlier this fiscal, Infosys raised its rupee revenue forecast to be at least Rs 40,746 crore (from Rs 39,582 crore earlier) and dollar revenue to be USD 7.45 billion (from USD 7.34 billion).

Reacting to the results, shares of Infosys soared 11.19 per cent to Rs 2,580 in early trade on the BSE.

In dollar terms, profit dipped by 5.2 per cent to USD 434 million in the reported quarter, but revenues were up by 5.8 per cent to USD 1,911 million in the quarter under review.

During the quarter, Infosys added 7,499 (gross) and 977 (net) employees taking the total headcount to 1,55,629.
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