Infosys Q4 PAT seen up 2.7% at Rs 2434cr: Nirmal Bang

Nirmal Bang has come out with its earnings estimates on Infosys for the March quarter FY13. According to the research firm, the company's Q4FY13 sales are likely to go up by 3.2% at Rs 10761.5 crore, quarter-on-quarter (QoQ) basis.

The company's Q4 net profit is seen up 2.7% at Rs 2433.7 crore, QoQ.

Nirmal Bang's report says, "We expect US dollar revenue of information technology (IT) companies in our coverage universe to grow -2%-4% QoQ in 4QFY13 (3.2% overall growth). We expect volume growth of -2.4%-4% QoQ. Cross-currency movements are unlikely to have a major impact in 4QFY13. Rupee revenue is expected to grow -2.1%-4.0% QoQ (2.6% QoQ overall). The rupee-movement was rangebound (average rupee-US dollar rate in 4QFY13 was Rs 54.17/USD  versus Rs 54.15/ USD in 3QFY13). On the margins front, we expect a range-bound performance for top-tier IT firms, while for mid-caps a divergence is likely with Hexaware likely to out-perform and Infotech Enterprises to underperform (1.8% QoQ EBITDA growth overall). Net profit divergence is expected to be broader, at - 10%-13.7% QoQ (2.6% QoQ overall), with Infotech Enterprises likely to under-perform and Hexaware likely to out-perform. FY14 commentary/conversion of budgets into revenue are key factors to watch out for."