Infosys Q4 lower than expectation; Revenue at Rs 7,250 cr
IT behemoth Infosys Technologies, posted tepid result in the fourth quarter of FY11, with the numbers coming in lower than market expectations. The company posted a net revenue of Rs 7,250 crore and a net profit at Rs 1,818 crore.
The company guided an 18-20% dollar revenue growth for FY12.
A surprising announcement
As this Moneycontrol report says:
The technology bellwether forecast Q4 revenue of $1.60-62 billion, up 23.5-24.8% from a year ago, while rupee revenue is seen in the Rs 7,517-7,230 crore range, up 20.4-21.6%.
However, analysts say the company's guidance has always been conservative and the street wouldn't be surprised if it outperforms in the fourth quarter as well as 2011-12 fiscal.
Though analysts expect QoQ revenue to grow 3-4%, the company prefers to keep its turnover growth figures to 2%.
During calendar year 2010, Infosys' revenues from infrastructure management grew by 13.6% compared with TCS' 39.5%. The company is realigning its verticals and restructuring big time. Analysts feel that this should help them find synergies across some verticals.
Infosys shares have been trading 6% down in 2011. Since investors and analysts alike have factored in higher growth than the forecast, it'll be interesting to note how the market reacts to the Infosys Q4 results.