Infosys Q3 net up 51% at Rs 497 crore

Infosys Q3 net up 51% at Rs 497 crore

Wednesday, January 12, 2005 (Bangalore):

Software major Infosys Technologies today declared a net profit growth of 51 per cent in the third quarter ending December.

The company's profit before tax has gone up by 51 per cent to Rs 497 crore during Oct-Dec period on a year-on-year basis.

Infosys' Q3 income has increased by 49 per cent to Rs 1875.61 crore.

Guidance

Infosys has upped its EPS guidance for the financial year 2005. The company sees FY05 EPS at Rs 68.70 compared to its previous forecast of Rs 67

It expects an EPS of Rs 18.94 for the fourth quarter of FY05.

The company has given Q4 income guidance of Rs 1956-1964 crore, which is up 45 per cent on a year-on-year basis.

For the fiscal ending March 31, 2005, income is expected to be in the range of Rs 7098-Rs 7107 crore, a growth of 46 per cent.

Infosys had earlier issued a revenue guidance of 48 per cent growth for the fiscal with income expected in the range of Rs 7132-7160 crore.

The company added 38 clients and 2,280 employees in the period under review.

Shares volatile

On the BSE, Infosys shares were seeing a volatile trend.

Infosys rose to Rs 2,028 before falling into the negative - below its previous close of Rs 1,970. Later it moved back into the positive and gained over a per cent.

Other frontline software stocks were firm.

Satyam and Wipro were trading with gains of over a per cent each while the BSE technology index was up almost 1.5 per cent at 2,500 points.

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