Infosys Q4 net up 3.5%;revenue guidance below industry average

IT services major Infosys today reported 3.5 per cent growth in consolidated net profit to Rs 3,097 crore for the quarter ended March 31.
It had posted net profit of Rs 2,992 crore in the January -March quarter of the 2013-14 fiscal, Infosys said in a BSE filing.
Revenue of the country's second largest IT services firm rose by 4.2 per cent to Rs 13,411 crore in fourth of the last fiscal compared to Rs 12,875 crore in the same quarter of 2013-14, it added.
On a sequential basis, Infosys' net profit fell 4.7 per cent from Rs 3,250 crore in October-December quarter, while revenue declined by 2.8 per cent from Rs 13,796 crore during the same period.

Reacting to the results, the company scrip fell 4.76 per cent to Rs 2,021.50 apiece on the BSE.
Infosys Managing Director and CEO Vishal Sikka said: "We see the industry going through a fundamental and structural transition. Despite being a challenging quarter, I am encouraged by the early successes in executing our Renew-New strategy, on a foundation of learning."

In US dollars, Infosys net profit grew 2.3 per cent to USD 498 million in the fourth quarter of 2014-15 from USD 487 million in the year-ago period; revenues rose 3.2 per cent to USD 2.159 billion from USD 2.092 billion a year ago.

Quarter-on-quarter, net profit fell 4.6 per cent from USD 522 million in December quarter, whereas revenue declined 2.6 per cent from USD 2.218 billion during the same period.
Infosys said it expects revenue for 2015-16 fiscal to grow in the range of 10-12 per cent, which is below Nasscom's estimate of 12-14 per cent.