Infosys has made the markets happy as it beat street expectations with a 8% Q-o-Q growth.
The IT major reported a net profit of 10.8% at Rs 1906 cr. Revenues jumped 8.2% to Rs 8,099 crore as against Rs 7,485 crore, quarter-on-quarter basis.
In their guidance, Infosys is very upbeat with a projected growth of 24% YoY.
Earning before interest and tax (EBIT) for the July-September quarter of 2012 showed a growth of 28.16% compared to Rs 1,952 crore in previous quarter. In its FY12 guidance the company expects a revenue growth of 17.1-19.1% as against earlier 18-20%.
In its press release SD Shibulal, CEO, Infosys Ltd, said, "The global macroeconomic environment is still uncertain. It is and should be a concern for the IT industry. In this scenario, clients are looking for new opportunities for growth, accelerated innovation and increased returns on investments. Our strategic initiatives and organization structure will enable us to build long term partnerships with our clients and help them drive their business objectives."
The country's second largest IT company expects its FY12 revenues to be in the range of Rs 33,501-34,088 crore ($7.08-7.20 billion). EPS for FY12 is seen in the range of Rs 143.02-145.26. The revenue for Q3 is seen in the range of $1.8-1.84 billion (Rs 8,826-9,012 crore) and EPS may be in within Rs 38.51-39.20.
The markets reacted positively to the results after nearly three quarters. The stocks are currently up nearly 5 percent. The IT major has also declared an interim dividend of Rs 15/share.
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