Friday, 11 January, 2008

Infosys Q3 net up 25% at Rs 1,231 cr

Software major Infosys Technologies on Friday posted 25.22 per cent increase in consolidated net profit at Rs 1,231 crore (Rs 12.31 billion) for the quarter ended December 31, compared to Rs 983 crore (Rs 9.83 billion) for the same quarter in 2006.

Total income of the group increased 19.25 per cent to Rs 4,429 crore (Rs 44.29 billion) for the third quarter ended December 31, from Rs 3,714 crore (Rs 37.14 billion) in the corresponding quarter ended December 31, 2007, Infosys Technologies informed the Bombay Stock Exchange.

The company reported 23.79 per cent increase in net profit at Rs 1,186 crore (Rs 11.86 billion) for the third quarter, compared to Rs 958 crore (Rs 9.58 billion) for the same quarter ended December 31, 2006.

Total income of the company rose 18.12 per cent from to Rs 4,151 crore (Rs 41.51 billion) for the quarter ended December 31, against Rs 3,514 crore (Rs 35.14 billion) in the year ago period.

Infosys [Get Quote] crossed $3 billion in revenues in the first nine months (April-December 2007) of the current financial year.
Infosys Q3 net profit includes Reversal of Tax povision of Rs 50 crore
Infosys pays $26 million overtime to settle California Wage Issue

Guidance for FY08
The company expects its revenues to grow 20 per cent in fiscal 2008.
dollar terms, FYO8 revenues of $4.17 billion
FY08 revenues seen at Rs 16,627
FY08 guidance assumes tax reversal of Rs 101 crore.
Q4 revenues
seen at Rs 4477 crore versus Rs 4501 crore.
FY08 EPS seen at Rs 81.07 and Q4
EPS seen at Rs 21.38
Releasing the results in Bangalore on Friday, S 'Kris'
Gopalakrishnan, CEO and managing Director, Infosys Technologies, said: "We
believe that our ability to handle large complex programmes using the global
delivery model provides a compelling value proposition to global customers
seeking efficiency in a challenging macro environment."