Infosys Q1 2014 PAT at Rs 2374 crores; beats estimates

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Infosys Q1 2014 PAT at Rs 2374 crores; beats estimates
Infosys: Quotes, News
BSE 966.60BSE Quote0.35 (0.04%)
NSE 966.40NSE Quote0.1 (0.01%)
Infosys has kick started the new earnings season with a set of numbers that marginally beat expectations. Profit after tax for Q1 FY 2014 has dropped to Rs 2374 crores, marginally lower then Rs 2394 crores reported in the corresponding quarter of the previous year.

Analysts were expecting a net profit of around Rs 2300 crores, which Infosys has beaten marginally on the upside.

The consolidated dollar revenues has come in at $1991 million, which was again marginally higher then expectations. The consolidated rupee revenues has come in at Rs 11,267 crores, aided by a falling rupee

The EBIT margin was 23.64% for Q1 2014.

"We continue to see good momentum for our offerings in products and platforms space. Over nine clients, across countries have adopted Infosys products and platforms," the company has said in a release.

"Our focus on Cloud and Big Data as new growth areas continue to yield results. The Cloud and Big Data business has executed over 100 engagements. Over the last quarter, Infosys won over 15 engagements across Cloud services and Big Data. Infosys was also invited to join the global Open Data Center Alliance (ODCA) as a contributing member to help define and strengthen worldwide industry standards to support enterprise cloud and big data requirements," the company has said.

The company added 66 clients during Q1 2014. Analysts largely expect the shares to do well, but are likely to wait for a few more quarters of consistency.

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Read more about: infosys, q12014
Story first published: Friday, July 12, 2013, 9:01 [IST]
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