Infosys Q4 PAT seen down 4% at Rs 2277cr: KR Choksey
KR Choksey has come out with its earnings estimates on Infosys for March FY12. According to the research firm Infosys' Q4FY12 sales are likely to go down by 2% at Rs 9115 crore, quarter on quarter, (QoQ) basis.
April 09, 2012 / 13:24 IST
KR Choksey has come out with its earnings estimates on Infosys for March FY12. According to the research firm Infosys' Q4FY12 sales are likely to go down by 2% at Rs 9115 crore, quarter on quarter, (QoQ) basis.
The company's net profit is seen down 4% at Rs 2277 crore, QoQ.KR Choksey expectations on Infosys for Q4FY12:The management has guided for growth of around 0-0.2% QoQ in USD terms in Q4 FY12. However, the company does not consider while giving guidance any revenue flow from large deals which are likely to be signed in coming months. Hence, taking the same into account we believe the revenue growth in constant currency terms will be around 0.7% QoQ in Q4 FY12. We believe, EBITDA margin will come down by 66 bps QoQ in Q4 FY12 primarily impacted by INR appreciation against USD and marginal decline in utilization rate; however one time increase in other operating expenses in Q3 FY12 will positively contribute to the margins.We expect, the company to guide revenue growth (in USD terms) in FY13E in the range of 12%-15%, which is contrary to market expectation that Infosys guidance will be in-line or lower than NASSCOM guidance of 11%-14% growth rate in FY13E. Our expectation is based on the past company
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