Infosys Technologies To Declare Q1 results Today, July 11, 2008.

11 Jul

Posted by Shyam as Results

The much awaited results season will kick start today with the announcement of first quarter results by Infosys Technologies. The Q1 ,2009 results of the company will be out in a few hours from now. The whole corporate sector and especially the share market watchers keep an eye on this event. In the last quarter Q4,2008, the companies net was up by 21%.

The results announced will be for the period ending on June 30th,2008. The slow down in the US markets,subprime crisis,rising inflation had a lot of impact on the performance of IT companies. But there was a respite too in the form of weakening dollar which was down by almost 7-8% from last quarter. The companies had assumed the Dollar to be at Rs 40.2 (average) for the whole quarter. Currently the Rupee is trading at around Rs43.20 or so.

So this will come as a breather for the IT companies in this quarter. The slowdown can also be seen from the hiring patterns of these companies in the last two quarters. Going ahead the way doesnt look smoother too. The It companies are trying to move away from US and concentrate on European and Indian markets now.

Now the highlights of the results can be accessed by your mobiles by sending an SMS as “R Infosys” or “Results Infosys” to 52622. The results will be available after 10 AM on July 11th,2008. It will be interesting to watch the stock movements today. Last time the stock closed up on the results day. We might expect a similar situation today too. But its too early to say something from now. So lets wait and watch !