Infosys declares Q1 results, net profit falls by 5.33 pc

WAIT IS OVER: Infosys declared its first quarter results on Friday.

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New Delhi: Infosys declared its first quarter results on Friday showing that there has been a five per cent fall over fourth quarter results of 2008-09.

The revenues are down 2.89 per cent quarter-on-quarter to Rs 5,472 crore while net profit fell by 5.33 per cent quarter-on-quarter to Rs 1,527 crore

The results were announced just a day after founder and former co-chairman Nandan Nilekani big goodbye to the IT giant.

The figures also indicate how badly the economic slowdown has hit the infotech sector.

Analysts had expected Q1 results to report a decline in sales, and also on profit after tax from Q4, ending March 31, 2009.

Profit after tax is the net profit earned by a company after deducting expenses like interest, depreciation and tax.

But the market is likely to welcome anything the management says about demand picking up for the latter half of the year.

(Note: The previous image used with the story was not of Infosys but of HCL Technologies. The error is regretted – Editor, IBNLive.com)