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Revenue guidance at 34.5-35% for FY08: Infy
Infosys Technologies has announced its second quarter numbers. The company has posted just 1.9% growth in net profit at Rs 1100 crore in second quarter of FY08 as against Rs 1,079 crore in previous quarter of the same year.
Infosys Technologies has announced its second quarter numbers. The company has posted just 1.9% growth in net profit at Rs 1100 crore in second quarter of FY08 as against Rs 1,079 crore in previous quarter of the same year. Its consolidated net sales surged by 8.8% to Rs 4,106 crore versus Rs 3,773 crore (QoQ). The operating profit margin increased to 31.27% from 28.73%.
The second quarter, which is the best quarter for tech companies, has seen the rupee touch a nine-year high to the dollar.
S Gopalakrishnan, CEO and MD, Infosys Technologies, said the company has done extremely well in managing the rupee. "We have revised our guidance for the year to 34.5-35%" he said.
The company is expected to report revenue of Rs 4,238-4,258 crore in third quarter of FY08, which implies 3.2-3.7% growth over second quarter numbers and EPS of Rs 20.11, which shows growth of 4.46% QoQ.
It is likely to post revenues of Rs 16,588-16,648 crore for FY08, which implies jump of 19.4%-19.8% over FY07 and EPS at Rs 79.49-79.88, which shows growth of 15-15.5% versus FY07.
"If you look at the guidance in rupee terms also, we have revised it because when we started the year, it was higher as the rupee rate was different. We have slightly increased it this quarter" said SD Shibulal.
On whether there is a chance of further revision upwards in the next few months, Gopalakrishnan opted for a wait and watch policy based on how the rupee moves.
