Infosys , India's second largest software services exporter, reported good set of numbers in the first quarter of financial year 2013-14 with the net profit falling lower-than-expected 0.8 percent quarter-on-quarter to Rs 2,374 crore.
Rupee revenue too increased higher-than-expected 7.8 percent Q-o-Q to Rs 11,267 crore from Rs 10,454 crore.
Analysts on an average were expecting net profit at Rs 2,315 crore on revenue of Rs 11,029 crore for the quarter.
Goldman Sachs says IT bellwether surprised on the upside on both revenue, profit in Q1.
Meanwhile, UBS advised buying Infosys with a target price of Rs 2,900/share.
Infosys' India business grew by 10.4 percent quarter-on-quarter.
Consolidated dollar revenue rose 2.73 percent Q-o-Q to USD 1,991 million versus USD 1,938 million.
Guidance
FY14 rupee revenue is likely to grow at 13-17 percent
The company left current financial year (FY14) revenue guidance unchanged at 6-10 percent.
Company is cautiously optimistic about rest of the year, says CEO, SD Shibulal.
Infosys CFO says July wage hike will affect margins in future quarters.
Infosys Says
Lodestone April-June net profit at USD 1.88 million versus USD 3.44 million loss (QoQ)
Revenue at USD 90.67 million versus USD 70.33 million (QoQ)
Rupee revenue too increased higher-than-expected 7.8 percent Q-o-Q to Rs 11,267 crore from Rs 10,454 crore.
Analysts on an average were expecting net profit at Rs 2,315 crore on revenue of Rs 11,029 crore for the quarter.
Goldman Sachs says IT bellwether surprised on the upside on both revenue, profit in Q1.
Meanwhile, UBS advised buying Infosys with a target price of Rs 2,900/share.
Infosys' India business grew by 10.4 percent quarter-on-quarter.
Consolidated dollar revenue rose 2.73 percent Q-o-Q to USD 1,991 million versus USD 1,938 million.
Guidance
FY14 rupee revenue is likely to grow at 13-17 percent
The company left current financial year (FY14) revenue guidance unchanged at 6-10 percent.
Company is cautiously optimistic about rest of the year, says CEO, SD Shibulal.
Infosys CFO says July wage hike will affect margins in future quarters.
Infosys Says
Lodestone April-June net profit at USD 1.88 million versus USD 3.44 million loss (QoQ)
Revenue at USD 90.67 million versus USD 70.33 million (QoQ)
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