BANGALORE, INDIA: Infosys Technologies posted a net profit of Rs 1527 crore for the quarter ended June 30, 2009. The company's profits have seen a dip of 5.5 per cent compared to the previous quarter profit, which was at Rs 1613 crore. On year-on-year basis net profits have grown by 17.3 per cent.
Even the company's revenues have dipped 2.9 per cent on sequential basis. Infosys' Q1 revenues are at Rs 5472 crore compared to Rs 5635 crore revenues posted during the Q4 of the previous financial year. On year-on-year basis, however, the revenues have shown 12.7 per cent growth.
Speaking on the financial performance, S Gopalakrishnan, CEO and MD of the company, said the company believed that in the short term the global economic environment would continue to be challenging.
“We are working closely with our clients to help them navigate the downturn. We continue to invest in the future to take advantage of the growth opportunities in the medium to long term,” he said.
The company giving its financial outlook (consolidated) for the quarter ending September 30, 2009, said that it expects Q2 revenues to be in the range of Rs. 5,318 crore and Rs. 5,413 crore, which is a decline of 5.4 per cent to 0.1 per cent on year-on-year basis.
Meanwhile, Infosys has reduced further on its expected revenue for the fiscal, which was announced during the previous quarter.
Infosys says for the fiscal year ending March 31, 2010 the income is expected to be in the range of Rs. 21,416 crore and Rs. 21,747 crore – an year-on-year decline of 1.3 per cent to a growth of 0.3 per cent.
During the previous quarter, the company gave out an outlook which said the company expected the income in the range of Rs 22,066 crore and Rs 22,928 crore.
Speaking on the dollar-rupee fluctuation, V Balakrishnan, Infosys CFO, said the global currency markets continue to be volatile. “During the quarter, the rupee appreciated against the US dollar. We continue to focus on margins while making the right investments to accelerate growth,” he said.
During the quarter, Infosys and its subsidiaries added 3,538 employees (gross). The net decline during the quarter was 945.