Redefine News

Infosys Technologies has declared its third quarter results of FY10. It has posted 2.73% jump in its Q3 net profit of Rs 1,582 crore as against Rs 1,540 crore in previous quarter.

Revenues went up 2.8% at Rs 5,741 crore versus Rs 5,585 crore. Topline as well as bottomline were above the street estimates. CNBC-TV18 was expecting net profit of Rs 1,490.1 and revenues of Rs 5,596.8 crore.

“Global economic recovery seems to be led by the US and the Financial Services,” said S. Gopalakrishnan, CEO and Managing Director. “Even though IT budgets are expected to be flat in 2010, offshore outsourcing is expected to benefit EBIDTA (earning before interest, depreciation, tax and amortisation) margins increased to 35.49% versus 34.61% (QoQ).

"The contribution from top ten clients grew by 12.2% during the quarter. Our clients are taking decisions much faster," said S.D. Shibulal, Chief Operating Officer. "Our focus on New Engagement Models (NEMs) was strengthened by the launch of Flypp™, our latest technology platform for telecom service providers."

FY10 Guidance

In dollar terms, its Q4 revenues are likely to be at USD 1.24-1.25 billion and EPS at USD 0.56 per share. FY10 revenues are expecting to be at USD 4.75-4.76 billion and EPS at USD 2.26 per share.

In rupee terms, Infosys sees income for the FY10 at Rs 22,473-22,519 crore and EPS (earning per share) at Rs 106.85-107.06.