nfosys Technologies has announced its Q2FY10 results. Its bottomline was above the street expectations while revenues were in line with estimates. Its net profit went up 0.85% to Rs 1,540 crore versus Rs 1,527 crore in previous quarter.
Its revenues were up 2.06% to Rs 5,585 crore from Rs 5,472 crore on quarter-on-quarter (QoQ) basis. CNBC-TV18 had estimated net profit at Rs 1,509.4 crore and revenues at Rs 5,604.3 crore.
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It reported operating profit was at Rs 1,933 crore and its operating margins improved a bit to 34.6% versus 34.1%.
BFSI (Banking, Financial Services and Insurance) revenues inched up 3.5% to Rs 1,871 crore versus Rs 1,807 crore on QoQ basis. Telecom Segment revenues went up 7.6% to Rs 992 crore versus Rs 922 crore (QoQ). However, manufacturing revenues went down at Rs 1,080 crore versus Rs 1,090 crore.
The company declared a dividend of Rs 10 per share.
Guidance
For Q3, it is expecting revenues of Rs 5,429-5,476 crore and EPS (earning per share of Rs 23.35-23.56.
For FY10, in dollar term, Infosys expects to report EPS of $ 2.09-2.10 per share versus previous guidance of $ 1.97-2 and revenues of $ 4.60-4.62 billion versus previous guidance of $ 4.45-4.52 billion.
In rupee term, it is expecting revenues of Rs 21,961-22,055 crore and EPS of Rs 99.60-100.
Infosys raised FY10 dollar EPS guidance by 5-6%. The company said FY10 guidance was based on forex rate of Rs 47/$
The company added 35 new clients in the quarter ended September 2009. It added one new $100 million plus client, 2 new $50 million plus clients and two 2 new $40 million clients.
Growth by Geography
Sept June Change
North America 65.9 64.7 1.2
Europe 23.2 24.7 -1.5
India 1.2 0.9 0.3
Rest of World 9.7 9.7 0
Growth by Industry (%)
Sept June Change
BFSI 33.5 33 0.5
Manufacturing 19.3 20.5 -1.2
retail 14.1 13.2 0.9
Telecom 16.2 16.9 -0.7
Infy Q2 PAT at Rs 1540cr; sees FY10 EPS at $2.09-2.10
Infosys Q2 beats street but mgmt concerned over weak dollar
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Infosys Q2 beats street expectations; net profit at Rs 1540 crore
MUMBAI: IT bellwether Infosys Technologies has reported a better-than-expected performance in the second quarter of FY09. The company posted a
Net sales stood at Rs 5585 crore in the September quarter against Rs 5472 crore on a sequential basis. Infosys Technologies has declared an interim dividend of Rs.10/- per equity share.
Result Highlights:
Income stood at Rs. 5,585 crore for the quarter ended September 30, 2009 translating to a YoY growth of 3.1%
Net profit after tax stood at Rs. 1,540 crore for the quarter ended September 30, 2009 YoY growth was 7.5%
Earnings per share increased to Rs. 26.86 from Rs. 25.02 in the corresponding quarter of the previous year resulting to a YoY growth was 7.4%
Declared an Interim dividend of Rs 10 per share which is 200% on par value of Rs. 5 per
share (same as previous year)
35 clients were added during the quarter by Infosys and its subsidiaries.
Gross addition of 6,069 employees (net addition of 1,548) for the quarter by Infosys and its Subsidiaries.
1,05,453 employees as on September 30, 2009 for Infosys and its subsidiaries
“In the second quarter, the business climate has improved,” said S. Gopalakrishnan, CEO and Managing Director. “Clients are now looking to invest in a few strategic initiatives and relationships to maximize value from opportunities when the economic downturn ends.”
Business outlook:
• Income is expected to be in the range of Rs. 5,429 crore and Rs. 5,476 crore; YoY decline of 6.2% to 5.4%
• Earnings per share is expected to be in the range of Rs. 23.35 and Rs. 23.56; YoY decline of 18.5% to 17.8%
For the fiscal year ending March 31, 2010
• Income is expected to be in the range of Rs. 21,961 crore and Rs. 22,055 crore; YoY growth of 1.2% to 1.7%
• Earnings per share is expected to be in the range of Rs. 99.60 and Rs. 100.00; YoY decline of 4.8% to 4.4%
Infosys Technologies, in a note to the media said, “Our strategy through the downturn has been to build our strengths rather than limit ourselves to navigating the challenges. Following this route, we are confident of emerging stronger when the economic environment improves and better poised to deliver enhanced value to all our stakeholders. We are sharpening focus on Research & Development, Intellectual Property-based solutions, and ‘New Engagement Models’ (NEMs) that offer flexible pricing and greater operational control and efficiency to clients.”
“We believe our expertise in large-scale transition management will differentiate us in the near future. Clients have been impressed by our engineering services. An industrial products and services company is testing our ‘Enterprise Collaboration Platform’ to transform its intranet from an information repository into a next-generation content hub that engages employees better,” company added.
Infosys results signal bumpy ride to recovery
Despite rupee rise, Infy raising EPS guidance commendable: CLSA
Sr: Moneycontrol, EconomicTimes
