Infosys quarterly results beat estimates, profit rises 3%, Q4 revenue up 18%, Stock tanks on poor sales, guidance, Latest stock price
Infosys has posted flat quarter-on-quarter net profit growth at Rs 2,394 crore for the fourth quarter ended March 31, 2013.
Quarterly profit rose just 1.1% quarter-on-quarter, even as the company won orders from customers including German automaker BMW.
The firm's dollar revenue growth was also weak at 1.4%.
The firm's consolidated revenuies stood at Rs 10,454 crore, up a mere 0.3% on q-o-q basis for the quarter under review.
Earnings per share of the company was up 1% over the preceding quarter, at Rs 41.89.
Infosys also gave a full year revenue guidance of 6-10% for FY14, compared with an industry guidance of 10-14%. It gave no EPS guidance.
Infosys along with subsidiaries added 56 clients in the quarter. It hired 1,059 employees on a net basis in Jan-March and as of March 31 had 1,56,688 employees.
The company, in recent months, has become more flexible in pricing, to get more clients. That surely has reflected on the margin front. Its EBIT (earnings before interest taxes) margin declined to 23.55 percent from 25.68 percent.
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