infy q1 results

infy q1 results

Today is a very important day for the share markets as infosysLtd (infy) infy q1 results are commibng out today , either they raise or fall depends upon infy q1 results 2009 2008. this quater the results of infy gains lots of significanse as the the fall in prises of satyam , and wipro to an extent has had an effect on the it shares, the it industry of late dosnt seem to presebt high growth rates as before. so its this infy q1 results ,

The first infy results of the year going to project the way for infy ahead, we have also heard that infy has backed lots of stayam clients after the fall of satyam which works in the favor of infy. ok lets keep our hands cross for the infy q1 results 2009 2010.

infy q1 results are out

nfosys Technologies Ltd. (500209.BY) Friday beat expectations to post a 17% rise in itsinfy q1 results fiscal first-quarter net profit, but cut its fiscal year guidance in rupee terms, reflecting the impact of the sharp gains in the local currency.

India's second-largest software exporter by sales, however, raised the lower end of its earnings and revenue in dollar terms for this fiscal year.

The software bellwether's consolidated net profit in the three months ended June 30 rose to INR15.27 billion, or INR26.66 a share, from INR13.02 billion a year earlier.

Net profit was higher than expected. The average of estimates in a Dow Jones Newswires poll of 13 analysts was for a net profit of INR13.83 billion.

Infosys shares rose on the results. At 0500 GMT, they were up 2.6% at INR1,721.05 on the Bombay Stock Exchange, where the benchmark Sensitive Index was flat.

Net profit was, however, 5% lower than the INR16.13 billion in the fourth quarter, recording the third consecutive quarter of a sequential decline.

Bangalore-based Infosys, India's second largest software exporter by revenue, is the first major Indian technology firm to report earnings every quarter. infy q1 results results are often considered an indication of how its rivals will perform.

The India- and Nasdaq-listed firm's net sales rose 13% to INR54.72 billion from INR48.54 billion a year earlier, helped by the addition of 27 new clients. But the number of clients fell to 569 from 579 in the quarter ended March 31, when revenue was INR56.35 billion.

In dollar terms, the company's first-quarter revenue declined 3% from a year earlier to $1.12 billion, while net profit grew 2% to $313 million, or 55 cents an ADS.

India's software exporters get most of their revenue from the U.S. and Europe, where their clients are cutting cost, including spending on technology, due to the global economic slowdown.

"We believe that in the short-term the global economic environment will continue to be challenging " S. Gopalakrishnan, chief executive and managing director, said in a statement.

"We continue to invest in the future to take advantage of the growth opportunities in the medium- to long-term," he said.

The company expects revenue of $4.45 billion-$4.52 billion in the fiscal year that began April 1, down 4.6%-3.1% from a year earlier. It also expects earnings at $1.97-$2.00 per American depository share this fiscal year, down 12.4%-11.1%.

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source : online.wsj.com MORE....


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