Infosys Q3 PAT seen down 9% at Rs 2157cr: Angel

Angel Broking has come out with its earnings estimates on Infosys for December quarter FY13. According to the research firm, the company's Q3FY13 sales are likely to go up by 1% at Rs 9,961 crore, quarter-on-quarter (QoQ) basis.

The company's net profit is seen down 9% at Rs 2,157 crore, QoQ.

The research firm expects the EBITDA margin of Infosys to decline by 97bp qoq to 28.1%, because of moderate wage hike of 6% to the offshore employee base and 2-3% to the onsite employee base

On the back of INR appreciation and moderate volume growth, profitability of tier-I companies such as TCS and Wipro is expected to decline by 4.1% and 2.0% qoq, respectively. Infosys and HCL Tech will have higher impact on their profitability due to additional negative impact of wage hikes; profitability is expected to go down by 9% and 9.5% qoq, respectively.