6 takeaways from the Infosys Q3 2013 results

Commentary

oi-Sunil

By Sunil Fernandes

Updated: Friday, January 11, 2013, 15:43 [IST]

After several quarters of under performance and disappointment, Infosys has finally delivered Q3 FY 2013 results that beat market expectations. In fact, the company's stock was the worst performer from Sensex companies in 2012. Here are a few takeaways from the company's surprisingly good results.

1) Q3 revenues higher then estimates

Infosys reported rupee revenues of Rs 10,424 crores for Q3 FY 2013. This was about Rs 500 crores more then estimates.

2) Net profits higher then estimates

Net profits were expected in the region of around Rs 2200 crores, but, again the company beat estimates by reporting profits of Rs 2369 crores for Q3 2013.

3) Contracts are rising

The company won 8 large outsourcing deals amounting to US$ 731 Mn of total contract value.

4) Dollar revenue guidance is upped

The company has given a dollar revenue guidance of $7.45 billion for FY 13, which again too is above street expectations.

5) Huge cash and cash equivalent balances

Liquid assets including cash and cash equivalents, current available-for-sale financial assets, investment in certificates of deposits and government bonds were Rs 22,501 crore.

6) Stock surges 11% on opening

The Infosys stock has surged 11 per cent pulling the indices higher with it.

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