A surprise fall in Infosys' profits

Q1 revenues grew by 13.3% year on year; sequentially grew by 4.3%

Highlights

Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2010

* Income was Rs 6,198 crore for the quarter ended June 30, 2010; QoQ (quarter on quarter) growth was 4.3%; YoY (year on year) growth was 13.3%

* Net profit after tax* was Rs 1,488 crore for the quarter ended June 30, 2010; QoQ decline was 7.0%; YoY decline was 2.4%

* Earnings per share* declined to Rs 26.06 from Rs 26.76 in the corresponding quarter of the previous year; QoQ decline was 7.0%; YoY decline was 2.6%

* Excluding the income from investment in OnMobile Systems, Inc. of Rs 48 crore in Q4 FY10, the QoQ decline was 4.1% towards Net profit and Earnings per share

Others

* 38 clients were added during the quarter by Infosys and its subsidiaries

* Gross addition of 8,859 employees (net addition of 1,026) for the quarter by Infosys and its subsidiaries

* 1,14,822 employees as on June 30, 2010 for Infosys and its subsidiaries

"While the global economic environment remains uncertain, we continue to see greater demand for services from our clients," said Kris Gopalakrishnan, CEO and Managing Director (seen here). "The challenge for the industry is to enhance the investment to grow the business, given the uncertainty in the environment."

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Text: Infosys Press Release and Agencies

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