Bangalore: Infosys Technologies Ltd posted a net profit of Rs.15.27 billion (Rs.1,527 crore) in the first quarter (April-June) of this fiscal (2009-10), registering 17.3 percent year-on-year (YoY) growth as per the Indian accounting standard. Technology meltdown and currency volatility have also forced Infosys Technologies Ltd to lower its guidance for the second quarter (July-September) and the entire fiscal (2009-10), projecting a marginal decline in revenues.
In a regulatory filing Friday, the IT bellwether said the consolidated income for the quarter (Q1) under review is Rs.54.72 billion (Rs.5,472 crore), which is an increase of 12.7 percent YoY as the per the Indian accounting standard. According to the International Financial Reporting System (IFRS), net income for the quarter grew marginally to $313 million from $308 million. Consolidated revenue declined by 2.9 percent YoY to $1.22 billion from $1.55 billion a year ago as per the IFRS. The IT bellwether said consolidated income in the second quarter (Q2) is expected to be Rs.53.18-54.13 billion (Rs.5,318-5,413 crore), which is a decline of 1.9-0.1 percent year-on-year (YoY), as per the Indian accounting standard.
In a regulatory filing Friday, the IT bellwether said the consolidated income for the quarter (Q1) under review is Rs.54.72 billion (Rs.5,472 crore), which is an increase of 12.7 percent YoY as the per the Indian accounting standard. According to the International Financial Reporting System (IFRS), net income for the quarter grew marginally to $313 million from $308 million. Consolidated revenue declined by 2.9 percent YoY to $1.22 billion from $1.55 billion a year ago as per the IFRS. The IT bellwether said consolidated income in the second quarter (Q2) is expected to be Rs.53.18-54.13 billion (Rs.5,318-5,413 crore), which is a decline of 1.9-0.1 percent year-on-year (YoY), as per the Indian accounting standard.
For the entire fiscal (FY 2009-10), consolidated income is projected to be Rs.214.16-217.47 billion (Rs.21,416-21,747 crore), which is a 1.3 percent decline YoY to marginal growth of 0.3 percent YoY, as per the Indian accounting standard. According to the International Financial Reporting System (IFRS), the revenue guidance for this quarter (Q2) shows a decline of 8.7-7.1 percent YoY in the range of $1.11-1.13 billion. Similarly, for the entire fiscal, the consolidated income is expected to be in the range of $4.45-4.52 billion, which is a decline of 4.6-3.1 percent, as per the IFRS.
source : http://news.in.msn.com/business/article.aspx?cp-documentid=3070826&page=1
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