Infosys Q3 2013 beats estimates; PAT at Rs 2369 cr

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, January 11, 2013, 15:40 [IST]

IT major Infosys finally reported profits and revenues that beat estimates, with profit after tax at Rs 2369 crores for Q3 FY 2013, against consensus estimates of around Rs 2,200 crores.

Infosys revenue for Oct-Dec quarter was up 12 per cent at Rs 10,424 crore from Rs 9,298 crore in the year-ago period.

The company has given a revenue guidance of $7.45 billion for FY 13, which again too is above street expectations. Rupee revenue guidance is also upped by the company.

"We have done well in this quarter despite an uncertain environment," said S. D. Shibulal, CEO and Managing Director. "We continue to gain confidence from a strong pipeline of large deals. However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January-March quarter", he added.

"We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term", said Rajiv Bansal, Chief Financial Officer.

Earnings per share (EPS) was Rs 41.47 for the quarter ended December 31, 2012 against Rs 41.46 for the quarter ended September 30, 2012

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 versus Rs 22,570 crore as on September 30, 2012.

The shares of the company are expected to open higher in trade today.

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