Infy FY10 Results

Infosys Technologies, India's second largest IT exporter, has announced its fourth quarter results of FY10.

It has reported a 1.14% jump in its net profit to Rs 1,600 Cr as against Rs 1,582 Cr, on quarter-on-quarter basis (Q-o-Q).

Revenues for the same quarter increased 3.54% to Rs 5,944 Cr versus Rs 5,741 Cr (Q-o-Q).

Numbers were above the markets expectations. CNBC-TV18 was expecting net profit at Rs 1,581.2 Cr and revenues at Rs 5,847.6 Cr.

But what disappointed the street was the company's FY11 guidance in rupee terms. It expects EPS at Rs 106.82-111.28 per share and revenue growth of 9-11%.

Q4FY10:

Operating margins declined to 34.02% versus 35.5% (Q-o-Q) and FY10 EPS stood at Rs 109.72 per share.

Revenues from North America grew by 4.4% (Q-o-Q) & 4.5% in constant currency and from Europe grew by 7.9% (Q-o-Q) & 11.8% in constant currency.

BFSI grew by 5.9% (Q-o-Q) & 6.7% in constant currency and manufacturing grew by 10.2% (Q-o-Q) & 11.3% in constant currency.

The company recruited 27639 employees in FY10 and has made 19000 campus offers for FY11.

Its USD 200 million plus client was down from 2 in Q3 to 1 in Q4. Top 5 client's contribution was down from 17.6% to 15.8% in Q4 versus Q3.

FY11 Guidance:

In dollar terms, the company expects 16-18% growth in revenues for the next year i.e. FY11. It expects revenues at USD 5.57-5.67 billion and EPS growth at 4.3-8.6% for the next financial year.

In rupee terms, Infosys lowered its guidance for FY11. It expects EPS at Rs 106.82-111.28 per share and revenue growth of 9-11%.