<p> Infosys on Friday announced that its net profit for the quarter ended December 31, 2012 stood at Rs 2,369 crore, which is a nominal 0.1 per cent lower than Rs 2,372 crore in the same period last year.<br /><br /></p>.<p>Its revenues for the third quarter stood at Rs 10,424 crore, an increase of 12.1 per cent compared to Rs 9,298 crore reported in the same quarter previous year.<br /><br />However, the operating profit of the company has fallen to Rs 2,677 crore in the quarter under review from Rs 2,899 crore in the quarter ended December 31, 2011.<br /><br />“We have done well in this quarter despite an uncertain environment,” Infosys Chief Executive Officer and Managing Director S D Shibulal said.<br /><br />In dollar terms, Infosys’ revenues grew 6.3 per cent (including Lodestone) and 4.2 per cent organically. The company also said that it has seen a pricing uptake of 1.8 per cent in Q3.<br /><br />He added that they continue to gain confidence from a strong pipeline of large deals, however, the broader economic environment remains difficult and Infosys remains cautiously optimistic about the January-March quarter.<br /><br />Infosys had earlier in December indicated that its performance could be impacted by the delay in decision making by clients and also due to shutdown in business in late October caused by hurricane Sandy in the US.<br /><br />However, on the contrary, Infosys raised its revenue guidance for the year ending March 31, 2013 to $7,450 million (including $104 million from Lodestone). Shibulal attributed this turn in performance to ‘hardwork’ and working closely with clients.<br /><br />Analysts were pleasantly surprised by the unexpected performance and so was the stock market, which saw the company’s stock move upwards of 16 per cent since morning and finally settled at Rs 2,712.60 on the Bombay Stock Exchange.<br /><br />“We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term,” Chief Financial Officer Rajiv Bansal said. The company won eight large outsourcing contracts amounting to $731 million of total contract value. In products and platform space, Infosys had 14 deal wins across industries and geographies which added more than $100 million in TCV.<br /><br />Commenting on the result, Gartner India Country Manager (Research) Partha Iyengar said, “Infosys results are finally coming closer to reflecting the demand reality, and if this sustains for the next 2 quarters could indicate that the worst phase of the company is behind it and it can stand to benefit from the strengthening demand environment.”<br /><br />He added that the upping of full year guidance is also a good sign for the company which shows some semblance of a return to confidence for the company, which was quickly becoming a ‘negative outlier’ amongst the Indian services majors.<br /><br />In Q3, the company added 7,499 employees (gross) and the net addition stood at 977 employees, taking the total headcount to 1,55,629 as on December 31, 2012.<br /><br />Barclays said in a research note, “Our recent conversations with industry participants had indicated that Infosys has been showing more aggression on winning new deals but the revival of the revenue trajectory is a significant positive surprise.”</p>
<p> Infosys on Friday announced that its net profit for the quarter ended December 31, 2012 stood at Rs 2,369 crore, which is a nominal 0.1 per cent lower than Rs 2,372 crore in the same period last year.<br /><br /></p>.<p>Its revenues for the third quarter stood at Rs 10,424 crore, an increase of 12.1 per cent compared to Rs 9,298 crore reported in the same quarter previous year.<br /><br />However, the operating profit of the company has fallen to Rs 2,677 crore in the quarter under review from Rs 2,899 crore in the quarter ended December 31, 2011.<br /><br />“We have done well in this quarter despite an uncertain environment,” Infosys Chief Executive Officer and Managing Director S D Shibulal said.<br /><br />In dollar terms, Infosys’ revenues grew 6.3 per cent (including Lodestone) and 4.2 per cent organically. The company also said that it has seen a pricing uptake of 1.8 per cent in Q3.<br /><br />He added that they continue to gain confidence from a strong pipeline of large deals, however, the broader economic environment remains difficult and Infosys remains cautiously optimistic about the January-March quarter.<br /><br />Infosys had earlier in December indicated that its performance could be impacted by the delay in decision making by clients and also due to shutdown in business in late October caused by hurricane Sandy in the US.<br /><br />However, on the contrary, Infosys raised its revenue guidance for the year ending March 31, 2013 to $7,450 million (including $104 million from Lodestone). Shibulal attributed this turn in performance to ‘hardwork’ and working closely with clients.<br /><br />Analysts were pleasantly surprised by the unexpected performance and so was the stock market, which saw the company’s stock move upwards of 16 per cent since morning and finally settled at Rs 2,712.60 on the Bombay Stock Exchange.<br /><br />“We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term,” Chief Financial Officer Rajiv Bansal said. The company won eight large outsourcing contracts amounting to $731 million of total contract value. In products and platform space, Infosys had 14 deal wins across industries and geographies which added more than $100 million in TCV.<br /><br />Commenting on the result, Gartner India Country Manager (Research) Partha Iyengar said, “Infosys results are finally coming closer to reflecting the demand reality, and if this sustains for the next 2 quarters could indicate that the worst phase of the company is behind it and it can stand to benefit from the strengthening demand environment.”<br /><br />He added that the upping of full year guidance is also a good sign for the company which shows some semblance of a return to confidence for the company, which was quickly becoming a ‘negative outlier’ amongst the Indian services majors.<br /><br />In Q3, the company added 7,499 employees (gross) and the net addition stood at 977 employees, taking the total headcount to 1,55,629 as on December 31, 2012.<br /><br />Barclays said in a research note, “Our recent conversations with industry participants had indicated that Infosys has been showing more aggression on winning new deals but the revival of the revenue trajectory is a significant positive surprise.”</p>
