Infosys Achieves One Billion Dollar Revenue in Third Quarter
Press Trust of India
Graphics: Times of India
Bangalore, Oct 12: Software major Infosys achieved a milestone by crossing $1 billion revenue for the quarter ended September 30, registering a yearon-year growth of 18.4%. The Bangalore-headquartered firm earned a net profit of Rs 1,100 crore after tax during the period, against Rs 929 crore for the same quarter last year.
“We have achieved another milestone by crossing $1 billion revenues in this quarter,” Infosys CEO and MD S Gopalakrishanan said. “In an increasingly flat world, our unique business model combined with our value proposition continued to help our clients grow profitably,” he said while announcing the Q2 results of the company.
Infosys and its subsidiaries added 48 new clients during this quarter. The company recorded Rs 4,106 income for the second quarter registering a growth of 19%.
Its earning per share increased to Rs 19.26 from Rs 16.75 for the corresponding quarter in the previous year, registering a year-on-year growth of 15%.
Infosys declared an interim dividend of Rs 6 per share (120%). The company and its subsidiaries reported a gross addition of 8,543 employees for the Q2 and its total workforce stood at 85,501 as on September 30, 2007. The Q2 revenues grew sequentially by 8.8%. Annual guidance value has been revised upwards, Infosys said. Going forward the company expects its revenue to grow 19.4-20% in fiscal 2008.
Infosys said under Indian GAAP (consolidated), its income is expected to be in the range of Rs 4,238 crore and Rs 4,258 crore for the quarter ending December 31, 2007, a yearon-year growth of 16-16.5%.
Earning per share was expected to be Rs 20.11 (YoY 14%). For the fiscal ending March 31, 2008, income is expected to be in the range of Rs 16,588 crore and Rs 16,648 crore, an YoY growth of 19.4-19.8%. Earning per share is expected to be in the range of Rs 79.49-Rs 79.88 (YoY growth of 15% to 15.6%).
As per the outlook under US GAAP, the company said its consolidated revenues are expected to hover in the range of $1,073 million and $1,078 million (YoY growth of 30.7-31.3%). For the fiscal ending March 31, 2008, its consolidated revenues are expected to be in the range of $4.16 billion and $4.17 billion (YoY on growth of 34.5-36%).
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