Infosys Q3 net profit up 2.7% at Rs1582 crore

Infosys Technologies has reported 2.7 per cent rise in net profit after tax at Rs. 1,582 crore for the quarter ended December 31, 2009, way ahead of street expectations.

Income stood at Rs. 5,741 crore for the quarter ended December 31, 2009 translating to QoQ growth of 2.8 per cent. Earnings per share decreased to Rs. 27.75 from Rs. 28.66 in the corresponding quarter of the previous year indicating sequential growth of 3.3%.

On a standalone basis, the company posted 2.29 per cent rise in net profit to Rs 1471 crore for the quarter ended Dec 31, 2009 as against Rs 1438 crore in the sequential period, way ahead of analyst expectations.

Net sales was reported at Rs 5335 crore for the Dec quarter compared with Rs. 5201 crore in the previous quarter.

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Income is expected to be in the range of Rs. 5,675 crore and Rs. 5,721 crore in the March quarter translating to a YoY growth of 0.7% to 1.5%. Earnings per share is expected to be in the range of Rs. 25.62 and Rs.25.83; YoY decline of 9.0% to 8.3%

For the fiscal year, income is expected to be in the range of Rs. 22,473 crore and Rs. 22,519 crore; YoY growth of 3.6% to 3.8% Earnings per share is expected to be in the range of Rs. 106.85 and Rs. 107.06; YoY growth of 2.2% to 2.4%