Infosys Q4 results disappoint: Key Highlights
Infosys' fourth quarter net profit was little ahead of expectations, helped by higher other income and lower tax expenses. However, its revenue was lower than analysts' forecast and what was more shocking was its guidance for FY14, which was much lower than what the industry body NASSCOM has forecast.
April 12, 2013 / 12:04 IST
Moneycontrol Bureau
Infosys's fourth quarter net profit was little ahead of expectations, helped by higher other income and lower tax expenses. However, its revenue was lower than analysts' forecast and what was more shocking was its guidance for FY14, which was much lower than what the industry body NASSCOM has forecast.Also Read: Infosys Q4 net up 3% YoY; shrs sink on poor sales, guidanceHere are key highlights from Infosys' earnings announcement for Jan-March:-- Net profit at Rs 2,394 crore; up 3 percent year-on-year, 1 percent quarter-on-quarter
-- Revenue at Rs 10,454 crore; up 18 percent YoY, 0.3 percent QoQ
-- CNBC-TV18 poll: Net Profit of Rs 2,297 crore, Revenue of Rs 10,730 crore
-- Operating Profit at Rs 2,462 crore; down 7 percent YoY and 8 percent QoQ
-- Other income at Rs 674 crore; up 3 percent YoY, 34 percent QoQ
-- Income Tax expense at Rs 742 crore; down 25 percent YoY, 9 percent QoQ
-- US Dollar net profit at 444 million, down 4 percent YoY and up 2 percent QoQ
-- US Dollar revenue at 1,938 million, up 9 percent YoY and 1 percent QoQ
-- CNBC-TV18 poll: US Dollar Revenue seen at 1,987 million
-- North America, Europe contributed 60.2 percent and 25 percent respectively to revenue
-- Banking, Financial Services and Insurance vertical accounted for the highest share (33.9 percent) of revenue
-- 56 clients were added; 798 active clients as of March 31
-- 1,059 employees were added; Total headcount: 1,56,688 as of March 31
-- Co to set aside USD 100 million to invest in products, platforms in-line with Infosys 3 strategyManagement Comments-- SD Shibulal, MD, CEO
"Global economic uncertainties remain challenging for the IT industry...“We are progressing well on our strategic direction of building a high-quality
company which is relevant to our clients. We are making all the investments necessary to differentiate ourselves in the market place while positioning ourselves as a partner of choice for our clients."-- Rajiv Bansal, CFO
"The global currency market continues to be volatile reflecting the uncertain economic environment. Our hedging strategy helps us to minimize the volatility impact...We have a healthy balance sheet with our cash and cash equivalents at US$ 4.4 billion.”
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
