Infosys Q1 revenues down 3% to Rs 5,472 crore

By Raja Rajeshwari, CNBC-TV18

Infosys Technologies  has announced its first quarter numbers of FY10 that were better-than-street-expectations. Its Q1 profit after tax (PAT) went down by 5% at Rs 1527 crore as against Rs 1613 crore, on quarter-on-quarter basis but that was better than the CNBC-TV18's estimate of Rs 1399.2 crore.

Its revenues declined 3% to Rs 5,472 crore as against Rs 5,635 crore (QoQ), which was above the expectations of Rs 5,344.1 crore. 

Infosys met its rupee guidance.

Infosys' other income stood at Rs 280 crore versus Rs 177 crore. The company's operating profit margins improved by 50 bps to 34.1% versus 33.6%, QoQ, which was way above expectations of 32%.

Its forex gains stood at Rs 31 crore and EPS (earning per share) came in at Rs 26.63 versus 28.13 a share.

Cost savings

Software development expenses declined 4.23%. Selling and marketing expenses slipped 3.33% and general administration expenses were down 0.23%.

Infosys CEO said global economic environment continued to be challenging.

Q1 Highlights: North America grew 0.2% (QoQ), which was flat in constant currency.

Guidance

FY10 revenue seen at USD 4.45-4.52 billion, decline of 3.1%-4.6%.

FY10 EPS seen at USD 1.97-2 a share, decline of 12.4%-11.1%.

Q2 revenues seen at USD 1.11-1.13 billion versus USD 1.12 billion given in Q1

Q2 EPS seen at USD 0.50-0.51 a share versus USD 0.55 in Q1.

Infosys cuts its FY10 EPS rupee guidance

FY10 revenues seen at Rs 21,416 crore versus Rs 21,747 crore

FY10 EPS seen at Rs 94.59-96 versus previous guidance of Rs 96.6-101.2 a share

Q2 revenues seen at Rs 5,318-5,413 crore versus Rs 5,472 in Q1

Q2 EPS seen at Rs 23.67-24.09 a share versus Rs 26.63 in Q1

Guidance was at exchange rate of Rs 47.91/$ versus Rs 50.72/$ (QoQ).