Expects fiscal 2011 revenues to grow by 9-11%
Infosys Technologies has reported revenues of INR59.44bn for the quarter ended March 31, 2010, an increase of 5.48% compared to INR56.35bn for the same period last year.
The company posted a gross profit of INR25.29bn, compared to INR23.66bn and an operating profit of INR17.89bn, compared to INR16.65bn for the same period last year. For the quarter, the company posted a net profit of INR16bn, compared to INR16.15bn for the same period a year ago.
Financial services segment revenue was down to INR20.68bn from INR18.58bn, manufacturing segment revenue was down to INR11.99bn from INR11.71bn while telecom segment revenue dropped to INR9.09bn from INR9.44bn. Retail segment revenue rose to INR7.71bn from INR7.59bn for the same period last year.
For the full year ended March 31, 2010, the company reported revenues of INR227.42bn compared to INR216.93bn last year. Gross profit for the year increased to INR97.22bn from INR91.58bn. Operating profit was INR69.10bn, and net profit was INR62.19bn for the year.
In dollar terms, the company posted revenues of $1.29bn, compared to 1.12bn, while net profit was $349m, compared to $321m for the same period last year.
Gopalakrishnan, CEO and managing director, said: “We have been able to take advantage of the opportunities in the market and grow faster due to our investment in capacity and capability building the economic downturn. Though the economic environment continues to be challenging, businesses are investing in growth for building a better future.”
Looking ahead, the company forecasts consolidated revenues to be in the range of $1.33bn and $1.34bn for the quarter ending June 30, 2010 and in the range of $5.57bn and $5.67bn for For fiscal year ending March 31, 2011. In rupee terms, the company expects fiscal 2011 revenues to grow by 9% to 11%.