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Jul 12, 2012, 08.23 AM IST
Angel has come out with its earnings estimates on Infosys for the quarter ended June 2012 (Q1FY13). According to the research firm, the company's Q1FY13 sales are likely to go up by 8.3% at Rs 9590 crore, Quarter-on-Quarter (QoQ) basis.
Angel has come out with its earnings estimates on Infosys for the quarter ended June 2012 (Q1FY13). According to the research firm, the company's Q1FY13 sales are likely to go up by 8.3% at Rs 9590 crore, Quarter-on-Quarter (QoQ) basis.
The company's net profit is seen up 1.4% at Rs 2348 crore, QoQ. Angel report on IT sector: For 1QFY2013, we expect volume growth to be in the range of 0.9-4.0% qoq for tier-I IT companies. 1QFY2013 witnessed one of the most volatile seasons as far as the currency is concerned. During 1QFY2013, INR depreciated by ~8% qoq against USD, which will result in a surge in INR revenue growth vs. USD revenue growth and boost the operating margins of IT players by 100-250bp qoq. For 1QFY2013, in INR terms, revenue growth is expected to be whopping at 8.3-13.6% qoq for tier-I IT companies due to depreciation of INR against USD on a qoq basis, with average USD/INR rate at 54.0 for 1QFY2013 as against 50.3 in 4QFY2012.
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