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04-13-2012, 09:47 AM #1
Infosys Q4 profit rises 27.4% at Rs 2316 crore, meets forecastInfosys Ltd, India's second-largest software services exporter, reported a 27.4 per cent rise in quarterly net profit, meeting forecast, after customers ramped up orders to cut operational costs.
Bangalore-based Infosys said on Friday consolidated net profit for the fiscal fourth quarter ended March 31 rose to Rs 2316 crore ($449 million) from Rs 1818 crors a year earlier. However, Infosys missed the Q4 dollar guidance.
Analysts had forecast a net profit of Rs 2318 crors for the company, whose customers include Procter & Gamble Co and Volkswagen AG, according to Thomson Reuters data.
Infosys expects revenue to rise 8 to 10 per cent in the fiscal year ending March 2013 to $7.6 to $7.7 billion, the company said on Friday.
Infosys CEO Shibulal said that the year ahead looks challenging for the IT services industry, adding that volatility in the global currency market continues to be a challenge. Shibulal said, "we are executing our Infosys 3.0 strategy which is meant to deliver high quality growth in the medium to long-term.We are making investments and have put in place a structure to deliver on this strategy."...being a human...