Infosys soars 5% on better Q2 results

The shares of Infosys gained by 5% and touched the monthly high of Rs2,647.80 after the company reported better than expectations Q2 numbers.

Infosys Tech Q2FY2012 results – Better than expectations, Strong EPS guidance in rupee term driven by higher currency depreciation:



Standalone Results

The net profit of the company jumped by 11.02% to Rs1822 crore for the quarter ended September 30, 2011 as compared to Rs1641 crore for the quarter ended September 30, 2010.

The total income of the company increased by 17.68% to Rs7853 crore for the quarter ended September 30, 2011from Rs6673 crore for the quarter ended September 30, 2010.

Consolidated Results

The net profit of the Group surged by 9.73% to Rs1906 crore for the quarter ended September 30, 2011 as compared to Rs1737 crore for the quarter ended September 30, 2010.

The total income of the group increased by 17.63% to Rs8486 crore for the quarter ended September 30, 2011 from Rs7214 crore for the quarter ended September 30, 2010.

Other Details:

Revenues were up 4.5% in US$ terms at $1746 million and in INR terms up 8.2% at Rs8099 crore. The US dollar revenues were marginally lower than our expectation of $1753.8 million and in line with company guidance of $1730-1755 million. Volumes grew by 4% QoQ.

EBIT margins were 210bps at 28.2% above our expectation of 27.9%.

For Q3FY2012, the company expects revenues at $1802-1840 million with q-o-q growth at 3.2 – 5.4% and in INR terms at Rs8826–9012 crore up 9–11.2% on q-o-q basis. For Q3FY2012, EPS is expected at Rs38.5–39.2 per share which is a sequential growth of 15.4 – 17.5% over Q2.

For the full year FY2012, the company has increased the EPS guidance to Rs143.02 – 145.26 against the earlier guidance of Rs128.2 – 130.1.

The company has however lowered the revenue growth guidance in US dollar terms to 17.1 – 19.1% against 18 - 20% revenue growth guided earlier.

The company has declared an interim dividend of Rs15 per share.