INFOSYS TECH...AFTER Q3
INFOSYS TECHNOLOGY:-Infosys is India's second largest software company and is recognized globally for its world-class management practices and work ethics.It offers services like software development, maintenance, consulting, testing and package implementation. Infosys offers all these services through its highly integrated and world-famous global delivery model.
India's second-largest software exporter, posted a market beating 51.5 percent rise in quarterly profit helped by a surge in outsourcing, and raised full year earnings forecast.
The software and back-office services industry, which earns 90 percent of its revenue from overseas clients, expects exports to rise 27-30 percent to $29-$31 billion in the year to end-March.
Nasdaq-listed Infosys said its net profit rose to 9.83 billion rupees ($220 million) in the three months ended December, from 6.49 billion rupees a year earlier.
A Reuters poll of analysts at 10 brokerages had expected Bangalore-based Infosys, whose clients include ABN AMRO and Goldman Sachs, to post a net profit of 9.79 billion rupees on revenue of 36.89 billion.
"We have seen accelerated growth in Europe, which continues to be a key focus market for us," Chief Operating Officer S. Gopalakrishnan said.
Infosys raised its 2006/07 earnings per share forecast to 66.63 rupees before exceptionals, a 48 percent jump on year, from 66 rupees it forecast in October.
Infosys, the first Indian company to join the Nasdaq 100 Index, develops applications, designs supply chains and offers back-office facilities. It ranks behind Tata Consultancy Services Ltd. in India's booming software services industry.
The company has roughly doubled its revenue over the past two business years to more than $2 billion as it won more outsourcing contracts from Western clients seeking to cut costs.
Shares in Infosys, which the market values at $27.8 billion, rose 21 percent in the December quarter, in line with the increase in IT sector index and almost double the main Mumbai index's gain.
($1=44.6 rupees)
Copyright 2007 Reuters
VALUATION:-WE MAINTAINED HOLD @CMP(2100) AT THE TARGET OF =2370 WITH IN NEXT QTR.
India's second-largest software exporter, posted a market beating 51.5 percent rise in quarterly profit helped by a surge in outsourcing, and raised full year earnings forecast.
The software and back-office services industry, which earns 90 percent of its revenue from overseas clients, expects exports to rise 27-30 percent to $29-$31 billion in the year to end-March.
Nasdaq-listed Infosys said its net profit rose to 9.83 billion rupees ($220 million) in the three months ended December, from 6.49 billion rupees a year earlier.
A Reuters poll of analysts at 10 brokerages had expected Bangalore-based Infosys, whose clients include ABN AMRO and Goldman Sachs, to post a net profit of 9.79 billion rupees on revenue of 36.89 billion.
"We have seen accelerated growth in Europe, which continues to be a key focus market for us," Chief Operating Officer S. Gopalakrishnan said.
Infosys raised its 2006/07 earnings per share forecast to 66.63 rupees before exceptionals, a 48 percent jump on year, from 66 rupees it forecast in October.
Infosys, the first Indian company to join the Nasdaq 100 Index, develops applications, designs supply chains and offers back-office facilities. It ranks behind Tata Consultancy Services Ltd. in India's booming software services industry.
The company has roughly doubled its revenue over the past two business years to more than $2 billion as it won more outsourcing contracts from Western clients seeking to cut costs.
Shares in Infosys, which the market values at $27.8 billion, rose 21 percent in the December quarter, in line with the increase in IT sector index and almost double the main Mumbai index's gain.
($1=44.6 rupees)
Copyright 2007 Reuters
VALUATION:-WE MAINTAINED HOLD @CMP(2100) AT THE TARGET OF =2370 WITH IN NEXT QTR.
posted by kalpana at 10:41 PM
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