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Posted by Shyam as Results
Infosys Technologies, India’s second largest software exporting company has announced the Q4 2010 results. For the quarter ending March 31st 2010, Infosys has announced a net profit of Rs 1,600 Crores and its revenue stands at Rs 5944 Crores. Infosys has recommended dividend of Rs 15/share to all its share holders.
In its last quarter Q3 2010, Infosys has made a profit of Rs 1,582 crores. So Q4 results were marginally higher. Given the currency fluctuations, this result can be considered above expectations. Check Infosys Q3 2010 Results and Infosys Q4 2009 Results for more comparisons and growth factor.
Traders aren’t looking very happy with the results of Infosys Q4 2010. The stock has lost 1.5% in the opening trade now and is trading at Rs 2,645. Its likely to move upwards as the trading progresses. In Q4 2009 the company has made profits of Rs 1,613 crores so there is a dip of 0.9%(y-o-y) but a growth of about 1.12% (q-o-q). This is basically due to the firmer Rupee and raising wages of IT employees after the recessionary period.
Update :- Infosys stock has gained 3.69% today or Rs 99 from previous close. It closed at Rs 2782/share. Infosys managed to add 47 new clients in this quarter and made a gross intake of 9313 employees in this quarter. It has now 1,13796 employees on its Payroll as on Mar 31st 2010. It has given a good outlook for the next quarters.
Meanwhile on the back of better than expected results, Infosys Technologies announced a wage hike of 13-17% for offshore employees and 2-3% for people working at onsite. Infosys has also announced to take 30,000 new employees in FY ’11. The company has cash and cash equivalent of Rs 15,857 crores in its kitty, so it can very easily survive another recession if it all in near future. From investment point of view, Infosys can be accumulated at lower levels of Rs 2,600-2700 range for long term perspective. All the IT stocks were buzzing with activity today and they made handsome gains on the back of good results of Infosys Q4 2010.
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