Infosys Q3 net profit remains same at Rs 2,369 crore

by CXOtoday News Desk    Jan 11, 2013

Infosys
Infosys shared its third quarter results of the current fiscal year today in Bangalore. It’s net profit after tax was Rs 2,369 crore for the quarter ended December 31, 2012, which remained unchanged compared to the quarter ended September 30, 2012. Its revenues were Rs 10,424 crore for the quarter ended December 31, 2012; the Quarter on Quarter (QoQ) growth was 5.7% and Year on Year (YoY) growth was 12.1%.

Its revenues excluding Lodestone were Rs 10,210 crore; QoQ growth was 3.6%, YoY growth was 9.8%.

The earnings per share (EPS) was Rs 41.47 for the quarter against Rs 41.46 for the quarter ended September 30, 2012. The liquid assets including cash and cash equivalents, current available-for-sale financial assets, investment in certificates of deposits and government bonds were Rs 22,501 crore versus Rs 22,570 crore as on September 30, 2012.

The IT company also revealed that it has won eight large outsourcing deals amounting to US$ 731 million of total contract value. Infosys and its subsidiaries added 53 clients during the quarter. It has also garnered 14 new wins for its products and platforms.

Infosys also said that it had completed the acquisition of Lodestone Holding AG, a leading management consultancy based in Switzerland. The Infosys American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE) under the ticker symbol ‘INFY’. The company is in the process of listing its ADS on the Paris and London exchanges of NYSE Euronext.

“We have done well in this quarter despite an uncertain environment,” said S. D. Shibulal, CEO and Managing Director. “We continue to gain confidence from a strong pipeline of large deals. However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January-March quarter”, he added.

“We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term”, said Rajiv Bansal, Chief Financial Officer.

The company’s outlook (consolidated) for the fiscal year ending March 31, 2013, under IFRS is as follows:
• Revenues are expected to be at least `40,746 crore;
• Earnings per share (EPS) is expected to be at least `162.80;