MUMBAI: IT major Infosys Technologies today reported a marginal rise of 0.25 per cent in consolidated net profit at Rs 1,617 crore for the fourth quarter ended March 31, 2010. ( Watch )
The company had a net profit of Rs 1,613 crore in the March quarter of the previous fiscal (2008-09), Infosys said in a filing to the Bombay Stock Exchange.
Income from software services, products and business process management rose to Rs 5,944 crore for the fourth quarter from Rs 5635 crore in the year-ago period.
The company's cash and cash equivalents stood at $3.5 billion at the end of March 31, 2010.
"We maintained our margins in one of the toughest years for the industry. The currency volatility continues to be a concern for the industry. We have an active hedging programme to minimise its impact on our margins," Infosys CFO V Balakrishnan said.
For the year ended March 31, the IT bellwether posted a consolidated net profit of Rs 6,266 crore, up 4.64 per cent over the year-ago period.
The board has declared a final dividend of Rs 15 per share for the fiscal on every share of Rs 5 held.
Shares of Infosys were trading at Rs 2,668.45, down 0.55 per cent over the previous close on BSE. During the fiscal, income from software services, products and business process management rose to Rs 22,742 crore from Rs 21,693 crore in the previous fiscal (2008-09). "We have been able to take advantage of the opportunities in the market and grow faster due to our investments in capacity and capability building even during the economic downturn," Infosys CEO and MD S Gopalakrishnan said. Infosys, which has Goldman Sachs, BT Group and BP Plc among its clients, added 47 clients during the quarter. At the end of March 31, the company had 1,13,796 employees, which includes a net addition of 3,914 staff during the fourth quarter. "Though the economic environment continues to be challenging, businesses are investing in growth for building a better future," Gopalakrishnan added. On a standalone basis, the company has posted a net profit at Rs 1,430 crore for the March quarter, a decline of 8.85 per cent over the same period last fiscal. |
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Src:ET and Moneycontrol