Click to play videoNew Delhi: India's second largest software company Infosys announced 3rd quarter numbers in-line with market expectations.
The company has registered 5.8 per cent growth sequentially under the Indian Generally Accepted Accounting Principles (GAAP)from the second quarter to Rs 983 crore and revenues have grown to Rs 3655 crore.
Infosys has added 43 new clients to its list as also 3,282 net employees.
According to the company's notification to the stock exchanges on Thursday, the consolidated income during the quarter under review (Q3) is Rs.36.55 billion, an increase of 44.4 percent YoY and 5.9 percent sequentially under the Indian GAAP.
Says Ambareesh Baliga of Karvy Stock Broking, "Infosys results are slightly below our estimates, but it is in-line with market expectations. Since there was no positive surprise, it would disappoint market players. If the stock slides, it would be a long-term buying opportunity."
Adds Deven Choksey of KR Choksey Securities, "Infosys results may prove to be a catalyst for the market. With the direction for next quater positive, IT stocks will see upside in coming months."
Analysts at Kotak Securities say that the results were in line with their expectations. However, they add that the topline is 1.5 per cent lower than their expectations as the rupee appreciation impacted bottomline.
Particulars |
Q3FY07 (Rs) |
Q2FY07 (Rs) |
QoQ (%) |
Revenues |
3655 |
3451 |
5.91 |
Net Profit |
983 |
929 |
5.81 |
Other Income |
59 |
66 |
-10.61 |
The company has given modest guidance for the 4th quarter and the year, keeping in mind the strengthening rupee eating into its earnings.
In Q4 revenues are expected to grow by just about 4 per cent and the company has given an earnings per share guidance of about Rs 18.
For the entire financial year, infosys has given a revenue growth guidance of 46 per cent and an earnings per share of Rs 66.
(With inputs from IANS)
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