Net profit grew quarter-on-quarter, but missed analyst estimates, even as revenue showed a healthy growth. The IT major raised its guidance further, after a surprise hike in the previous quarter. Watch here for more details
Last quarter, Infosys had net employee addition of 21,171 employees
Investors are broadly pleased by the Q2 show of Infosys, Wipro and Mindtree with the last two companies' numbers coming in relatively better.
In this edition of Ideas For Profit, Moneycontrol's Sakshi Batra analysis the second-quarter performance of the technology behemoth Infosys and how should investors look at it.
Infosys' net profit grew by just 1.5 percent quarter-on-quarter to Rs 2,410 crore -- in-line with expectations - for the quarter ended September 2013. The country's second largest software services exporter revised guidance for full year revenue growth to 9-10 percent from 6-10 percent.
Revenues are seen going up by 13.4 percent to Rs 12,781 crore in second quarter of FY14 from Rs 11,267 crore in previous quarter while dollar revenues may grow 2.6 percent Q-o-Q to USD 2042 million.
The BSE Sensex fell 130 points on Friday following bleak outlook presented by Infosys for its full year numbers and on less hopes of rate cut by the Reserve Bank of India (RBI). The index closed at 18,675.18.
Indian shares remained under selling pressure due to weakness in Infosys and ICICI Bank. Capital goods majors Larsen & Toubro and BHEL were down 0.6-1 percent after disappointing performance by the sector in August and less hopes of cut in policy rates by the Reserve Bank of India on October 31.
Indian shares opened marginally lower on Friday following disappointing outlook for FY13 by the country's second largest software services exporter Infosys.
India's second largest software services exporter Infosys ' net profit rose by 3.5 percent quarter-on-quarter to Rs 2,369 crore - largely in-line with expectations - in the second quarter of FY13. CFO V Balakrishnan will give up its position with effect from October 31, but he will continue to be a board member.
Infosys, India's leading software services exporter, just about met street expectations with its second quarter results, but hugely disappointed the street with a deeper cut in earnings per share guidance for the full year, sending its shares down over 7% in morning trade.
Technology bellwether Infosys has cut US dollar revenue guidance for the full year, saying the global macroeconomic environment remained uncertain, and currency also remained volatile.
Infosys Ltd, India's No. 2 software services exporter, reported a 10.7% rise in quarterly profit, roughly in line with expectations, as a weak rupee boosted margins.
"It's the big day today with Infosys results coming up and we will probably get decent set of numbers backed by the present scenario of rupee," says CNBC-TV18's Udayan Mukherjee.
Quite a lot happened over yesterday and there is even more to look forward to today. Infosys Q2 result, August IIP data, after-effect of flooding in Australia, controversial US bill to punish China... Check it out!