Infosys Q3 Results: Net Profit up by 33.3%

Business

oi-Sneha

By Sneha B K

Published: Thursday, January 12, 2012, 15:09 [IST]

India's second largest IT company, Infosys on Thursday reported better than expected results of Q3 with a rise of 33.3% in consolidated net profit to Rs 2,372 crore. The company has also reduced its dollar revenue growth from 17.1%-19.1% to 16.4% amid rising uncertainties over euro zone crisis leading to global economic downswing.

The company's Net profit in the quarter was at around Rs 2,372 crore, which shows 33.3% growth in Net profits year-on-year (y-o-y).

Company's earnings per share (EPS) grew by 33.3% (y-o-y) to Rs 41.51 for the quarter ended December 31, 2011.

Infosys CEO and Managing Director S D Shibulal said, "The global economy, driven by slower growth in developed markets, coupled with the European crisis, could impact the growth of the IT industry."

"Notwithstanding short-term challenges, we are focused on long-term growth opportunities by investing in platforms and solutions, which will accelerate innovation, enhance returns for our clients and deliver higher business value," he added.

Bangalore based Infosys expects its revenue to be in the range of Rs 9,391 crore to Rs 9,412 crore, with year on year growth of 29.5%- 29.8% for this quarter ending March 31, 2012.

Infosys shares opened down over 6% at Rs 2,636.75. At 1.15 pm IST, shares were seen trading at 2,615.20 down by 210.80 points or 7.46%.

Infosys and its subsidiaries added 49 new clients during the quarter. As on December 31, the company had 1,45,088 employees.

GoodReturns.in