Infosys Technologies projects $5 billion revenue in FY2009
Infosys Technologies has reported a year on year growth of 20.4 per cent to Rs4,542 crore for its quarter ended 31 March and a net profit after tax of Rs1,249 crore registering a YoY growth of 9.2 per cent. This was shared as part of announcing its Q4 and FY 2008 results.
The net profit for the quarter and year ended 31 March 2008 includes a reversal of tax provisions amounting to Rs20 crore and Rs121 crore respectively (Rs125 crore for the quarter and year ended 31 March 2007).
Infosys says excluding this reversal, the earnings per share for the quarter and year ended 31 March 2008 would have been Rs21.47 and Rs79.39 resulting in a YoY growth of 18.6 per cent and 18.7 per cent respectively.
Earnings per share increased to Rs21.83 from Rs20.30 for the corresponding quarter in the previous year; YoY growth was 7.5 per cent
Its operating margin stood at 32.54 per cent versus 32.60 per cent while projection was at 32.8 per cent. Other income was at Rs139 crore and tax provision reported at Rs 211 crore. BFSI contributed 33.9 per cent to Q4 revenues as against 36.8 per cent in Q3.
The company has added a new $300-million client in Q4 among the 40 clients during the quarter. Net addition of employees stood at 5947.
Consolidated results for the year ended 31 March 2008:
- Income of Rs16,692 crore for the year ended 31 March 2008; YoY growth 20.1 per cent
- Net profit after tax before exceptional item was Rs.4,659 crore for the year ended
- March 31, 2008; YoY growth was 20.8 per cent
Earnings per share before exceptional item increased to Rs81.53 from Rs69.11 in the previous year; YoY growth was 18.0 per cent
The company has announced a final dividend of Rs7.25 per share amounting to 145 per cent on par value of Rs5 per share, and a special dividend of Rs20 per share amounting to 400 per cent on par value for fiscal 2008.
Infosys says though its current financial policy is to pay dividends up to 20 per cent of net profits, its board has decided to increase the dividend pay-out ratio to up to 30 per cent of net profits effective fiscal 2009.
Guidance
FY09 revenues seen at Rs 19894-20214 crore
FY09 EPS at Rs 92.30-93.90
Q1 revenues seen at Rs 4570-4582 crore (up 21.1-21.4 per cent YoY)
Q1 EPS seen at Rs 20.73 Vs Rs 21.83 in Q4 (De-growth of 5 per cent QoQ and up 15 per cent YoY) (Rupee rate taken as 40.02 per dollar)
|
(In Rs crore) |
||||
| Result |
Dec-07 |
Sep-07 |
Jun-07 |
Mar-06 |
| Profit before depreciation and tax |
5646 |
4600 |
3133 |
2453 |
| Depreciation |
-546 |
-469 |
-409 |
-268 |
| Profit before Tax |
5100 |
4131 |
2724 |
2184 |
| Tax |
-630 |
-352 |
-303 |
-325 |
| Provisions and Contingencies |
- |
-2 |
- |
-0 |
| Profit after tax |
4470 |
3777 |
2421 |
1859 |
| Extraordinary Items |
- |
6 |
- |
45 |
| Net profit |
4470 |
3783 |
2421 |
1904 |
| Equity capital |
286 |
286 |
138 |
135 |
“The pricing environment remained stable during the quarter,” said S.D. Shibulal, Chief Operating Officer. “We continue to see greater growth opportunities in Europe. Our current utilisation level provides us enough flexibility to grow faster.”
Infosys said it had responded to emerging market needs by introducing new, value-added services, ‘learning services’ to addresses business problems that require a focus on underlying organisational learning needs. Current solutions include managed knowledge transfer, process adoption and sustenance, global sales effectiveness as well as enabling corporate universities and learning organizations to meet the needs of a global talent pool.