Infosys Q1 net falls 1.16 pc vs previous quarter
Posted on: 09:30 AM IST Jul 12, 2012
Mumbai: Software bellwether Infosys' consolidated net profit fell 1.16 per cent quarter-on-quarter to Rs 2,289 crore in the quarter ended June 2012. Company had reported net profit of Rs 2,316 crore in previous quarter.
Net profit was lower than analysts' expectations of Rs 2,448 crore during the same quarter.
Overall the company disappointed the street by its earnings per share and revenues in terms of dollar. Earning per share in terms of rupee too was quite disappointing. Even the guidance was lower than expectations.
Revenues rose 8.63 per cent to Rs 9,616 crore from Rs 8,852 crore quarter-on-quarter. Analysts on average had expected at Rs 9,665 crore.
Earnings before interest and tax went down 10.17 per cent to Rs 2,693 crore from Rs 2,998 crore QoQ.
EBIT margin declined at 28 per cent as against 29.9 per cent during the same quarters.
Revenue in dollar terms dropped 1.07 per cent to $1,752 million from $1,771 million and even its earnings per share slipped to $0.73 from $0.81 a share.
Infosys has added 51 clients during the quarter.