India First Edition

Infosys 3rd quarter net profit at Rs 1,582 crore

Hyderabad, January 11: Bangalore headquartered Infosys Technologies Limited today announced financial results for the Quarter Ended December 31, 2009. The  company has registered 2.8% quarter on quarter growth in its income at Rs. 5,741 crore for the quarter. However, on YoY basis income was declined at 0.8%. Net profit stood at 1,582 crore, up 2.7% QoQ and 3.6% down on YoY. The company today also announced its plan to hire 15,000 new staff next year 2010-11. The company is expecting FY10 hiring at 24,000.

Here are the other highlights:

• Earnings per share decreased to Rs. 27.75 from Rs. 28.66 in the corresponding quarter of the previous year; QoQ growth was 3.3%; YoY decline was 3.2%
• 32 clients were added during the quarter by Infosys and its subsidiaries
• Gross addition of 8,719 employees (net addition of 4,429) for the quarter by Infosys and its subsidiaries
• 1,09,882 employees as on December 31, 2009 for Infosys and its subsidiaries
Business outlook
The company’s outlook (consolidated) for the quarter ending March 31, 2010 and for the fiscal year ending March 31, 2010, under Indian GAAP and International Financial Reporting Standards (IFRS) is as follows:
Outlook under Indian GAAP – consolidated*
Quarter ending March 31, 2010
• Income is expected to be in the range of Rs. 5,675 crore and Rs. 5,721 crore; YoY growth of 0.7% to 1.5%
• Earnings per share@ is expected to be in the range of Rs. 25.62 and Rs.25.83; YoY decline of 9.0% to 8.3%
Fiscal year ending March 31, 2010
• Income is expected to be in the range of Rs. 22,473 crore and Rs. 22,519 crore; YoY growth of 3.6% to 3.8%
• Earnings per share@@ is expected to be in the range of Rs. 106.85 and Rs. 107.06; YoY growth of 2.2% to 2.4%