Infosys raises outlook, misses Q2 forecast
India's second-largest software services exporter Infosys on Friday reported a 1.6 percent year-on-year increase in consolidated net profit to Rs 2,407 crore for the July-September quarter, missing expectations, even as outlook for revenue growth improved.
Consolidated quarterly revenue jumped 15 percent sequentially (31.5 percent year-on-year) to Rs 12,965 crore even as the Bangalore-based firm said its results were hit by a impacted by one-time visa settlement charge of Rs 219 crore.
It attributed the earnings rise to to robust volume growth, stable pricing and strong client addition during the growth besides the weakness in the rupee during the quarter that averaged at 62.77 against the dollar.
The company raised its full year revenue guidance to 9-10 percent from 6-10 percent earlier.
"We have witnessed broad-based volume growth and robust client addition during the quarter. We have signed five large deals in Q2," Infosys said in its release.
Consolidated adjusted earnings before interest and tax (EBIT) increased 14.7 percent sequentially to Rs 3,056 crore and margin remained flat at 23.6 percent as against 23.64 percent.
Standalone net profit increased to Rs 2,326 crore from Rs 2,250 crore and income from operations jumped to Rs 11,482 crore from Rs 9,959 crore for the quarter ended September 2013, quarter-on-quarter.
Infosys declared an interim dividend of Rs 20/share for the financial year 2013-14.
(Posted on 11-10-2013)