Infosys Q4 net at Rs 1600 cr, falls 0.9%

Infosys Technologies, India's second largest software services exports firm, has posted a 0.9 per cent declined in its net profit to Rs 1,600 crore (Rs 16 billion) for the fourth quarter ended March 31, 2010 as compared to corresponding previous quarter. The topline has moved up by 5.5 per cent to Rs 5,944 crore (Rs 59.44 billion).

On a sequential quarter on quarter basis, the net profit has moved up by 2.6 per cent while the topline grew by 3.5 per cent.

On a full year basis, the company's net profit has moved up by 4 per cent to Rs 6,219 crore (Rs 62.19 billion) while the topline has moved further by 4.8 per cent to Rs 22,742 crore (Rs 227.42 billion).

IT bellwether Infosys Technologies has reported a year-on-year rise of 29 per cent in its consolidated net profit at Rs 1,613 crore (Rs 16.13 billion) for the fourth quarter ended March 2010, as per Indian GAAP standards.

Revenues during the period stood at Rs 5,635 crore (Rs 56.35 billion), higher by 24 per cent as compared to the corresponding period last fiscal.

For the full year 2009-10, Infosys recorded a net profit of Rs 5,988 crore (Rs 58.99 billion), a jump of 29 per cent on y-o-y basis.

Revenues during the period under review rose 30 per cent (y-o-y) to Rs 21,693 crore (Rs 216.93 billion). The company has declared a final dividend of Rs 15 per share.

The results were slightly lower than the guidance given by the company in the previous quarter (Q3FY10).

Infosys expected income to be in the range of Rs 22,473 crore - Rs 22,519 crore (Rs 224.73 billion - Rs 225.19 billion) in the last financial year while EPS was pegged at Rs 106.85 - Rs 107.06.

For 2010-11 OR Q1FY11, the technology major expects revenue growth at 16-18 per cent. EPS growth seen at 4.3-8.6 per cent in USD terms.

"We have been able to take advantage of the opportunities in the market and grow faster due to our investments in capacity and capability building even during the economic downturn," Infosys CEO and MD S Gopalakrishnan said.

Infosys, which has Goldman Sachs, BT Group and BP Plc among its clients, added 47 clients during the quarter.

At the end of March 31, the company had 1,13,796 employees, which includes a net addition of 3,914 staff during the fourth quarter.

"Though the economic environment continues to be challenging, businesses are investing in growth for building a better future," Gopalakrishnan added.

"We maintained our margins in one of the toughest years for the industry. The currency volatility continues to be a concern for the industry. We have an active hedging programme to minimise its impact on our margins," Infosys CFO V Balakrishnan said.