Infosys, the country's second largest software services exporter has come out with its fourth quarter FY12 numbers on Friday. It has disappointed the street by its revenues and EBIT, though profits came in slightly higher than expectations. Even the company missed its guidance for its earnings per share.
The company's net profit was of Rs 2,316 crore for the fourth quarter of FY12, a fall of 2.36 per cent QoQ. Its revenues fell 4.8 per cent QoQ to Rs 8,852 crore.
Earnings before interest and tax too dropped 8.7 per cent QoQ to Rs 2,647 crore. EBIT margin dropped at 29.9 per cent in the fourth quarter of FY12 as against 31.17 per cent in the previous quarter.
However, the company has made investors happy by giving a special dividend of Rs 10 a share.
Q1 and FY13 guidance
Company expects earnings per share in terms of dollar at USD 3.12-3.17 for FY13, a growth of 4-5.7 per cent.
Revenues are expected to grow by 8.10 per cent in FY13 as against expectations of 12-14 per cent.
For the first quarter of next financial year, earnings per share will be USD 0.73, an increase of 9 per cent YoY.
In dollar terms, company sees revenue growth of 6-7.1 per cent as against market expectation of 2.5-4 per cent.
Infosys has touched an intraday high of Rs 2,540 and an intraday low of Rs 2,451.25. At 09:16 hrs the share was quoting at Rs 2,475, down Rs 275.05, or 10 per cent.
It was trading with volumes of 89,684 shares. In the previous trading session, the share closed down 1.87 per cent or Rs 52.30 at Rs 2,750.05.
CLSA has put Infosys target price between Rs 2,158-2,490 per share.
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