Infosys results: Q4 net profit rises 27% to Rs 2,316 cr
For the full year, it reported a 21 per cent increase in net profit to Rs 8,316 crore from Rs 6,823 crore in the previous year. Revenues grew 24 per cent to Rs 35,638 crore (Rs 28,712 crore).
The Infosys stock tumbled 9.3 per cent to Rs 2,494 on the BSE in early trade. On a quarter-on-quarter basis, net profit was down 2.4 per cent.
Earlier, the company had given the guidance for Q4 revenues to be in the range of Rs 9,391 crore and Rs 9,412 crore and expected a year-on-year growth of 29.5 per cent to 29.8 per cent. PTI reports: "We had a very difficult quarter with revenues declining sequentially... The global currency market volatility continues to be a challenge for the industry," the Infosys Chief Financial Officer and Member of Board, Mr V. Balakrishnan, said.
Outlook for FY13 first quarter
The company expects revenue in the range of Rs 9,011 crore-Rs 9,100 crore for the quarter ending June 30, and in the range of Rs 38,431 crore-Rs 39,136 crore for the FY'13.
Expressing serious concern over the ongoing protests in Andhra Pradesh, following the nod for the creation of a separate Telangana State, the Communist Party of India (CPI) leader D Raja said that the Centre must address the genuine concerns of the people and assure them that their interests will be duly protected.
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