Infosys Live Blog: Shibulal cautiously optimistic for FY14
MD and CEO Shibulal is cautiously optimistic for rest of the year. All eyes will be on Narayan Murthy‘s return and commentary from him.
July 12, 2013 / 04:22 PM IST
10.24am: The company is watching US Immigration Bill very closely, but does not see the bill impacting deal pipeline.
10.20am: Discretionary spend by clients continues to be stressed, management said. The company has kept its dollar guidance unchanged given the cautious economic environment.
10.17am: Infosys' volumes rose 4.1 percent in Q1 and pricing remained stable in Q1.
10.15am: Rupee fall will benefit margins, which will be offset by wage hikes, the management said. Infosys expects a wake hike impact of around 300 basis points on margins in Q2.
10.10 am: The management is seeing momentum in large deal pipeline, but believes it is too early to change guidance.
10. 07am: Cross currency has impacted company's revenues by USD 13.7 million. Currency pricing was down 0.7 percent (Q-o-Q), the management added.
10. 05am: Infosys won seven large deals in Q1. Interaction with clients suggests that sentiment towards company is positive, the management said.
10.03am: Software services exporter says it added 66 clients during Q1. Its India business grew by 10.4% (QoQ).
9.55am: Infosys FY14 rupee revenue is likely to grow at 13-17 percent. "We leave current financial year (FY14) revenue guidance unchanged at 6-10 percent," it said. The stocks surged 15 percent in early trade today.
9.45am: Broking firm Goldman Sachs says that the company's Q1 has surprised on the upside both on revenue and profit front. UBS recommends buying the stock with a target of Rs 2,900/share.
9.35am: Infosys' attrition rate stood at 16.9% versus 16.3%, quarter-on-quarter basis (Q-o-Q). According to company's CFO, the wage hike announced in July will affect the company's margins in quarters ahead.
9.26am: MD and CEO Shibulal is cautiously optimistic for rest of the year. All eyes will be on Narayan Murthy’s return and commentary from him. 9:00am: Infosys, India's second largest software services exporter has beaten expectations. Its net profit for Q1FY14 fell lower-than-expected 0.8 percent quarter-on-quarter to Rs 2,374 crore.