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Infosys Reports Q3 Revenues of Rs. 9,298 crores, up 30.8 Percent
IT News Online Staff
2012-01-12
Infosys Ltd. has announced its results for the third quarter (Q3) ending December 31, 2011. Revenues for the quarter were Rs. 9,298 crores, up 30.8% from the same period last year and 14.8% from the previous quarter.
Net profit after tax was Rs. 2,372 crores for the quarter, up 33.3% from last year and 24.4% from Q2. Earnings per share (EPS) for the third quarter was Rs. 41.51.
"The global economy, driven by slower growth in developed markets coupled with the European crisis, could impact the growth of the IT industry," said S. D. Shibulal, CEO and Managing Director. "Notwithstanding short-term challenges, we are focused on long-term growth opportunities by investing in platforms and solutions, which will accelerate innovation, enhance returns for our clients and deliver higher business value."
The company said it expects revenues for the fourth quarter (Q4) ending March 31, 2012 to be in the range of Rs. 9,391 crores and Rs. 9,412 crores, a growth of 29.5% to 29.8% from last year. EPS is expected to be Rs. 42.12 up 32.4% from last year.
For the fiscal year ending March 31, 2012, Infosys expects revenues to be in the range of Rs. 34,273 crores and Rs. 34,294 crores, an increase of 24.6% to 24.7% from the fiscal year ending March 31, 2011. EPS is expected to be Rs.147.13, up 23.2%.
The company said that as on December 31, 2011, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits was Rs. 19,752 crores (Rs. 15,897 crores as on December 31, 2010).
"The global currency market continues to be volatile with the Indian rupee depreciating by 11% during the quarter," said V. Balakrishnan, Member of the Board and Chief Financial Officer. "Managing extreme currency volatility in an uncertain economic environment is going to be a challenge for the industry. We believe our focus on high-quality growth combined with our flexible financial model will position us better during these challenging times."
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