Arab Today, arab today infosys reports jump in profits
Last Updated : GMT 03:00:41
Arab Today, arab today
Arab Today, arab today

Infosys reports jump in profits

Arab Today, arab today

Arab Today, arab today Infosys reports jump in profits

Bangalore - AFP

India\'s second-biggest outsourcer Infosys said on Friday quarterly net profit jumped nearly 14 percent but the company\'s shares tumbled as the figures lagged market expectations. Consolidated net profit in the three months to March rose 13.7 percent year-on-year to 18.2 billion rupees ($408 million), Infosys Technologies said in a statement, below market forecasts of 18.8 billion rupees. Analysts called the performance, which kicked off the quarterly corporate earnings season, disappointing and blamed it on higher costs that hit margins. \"We expect the demand environment to be normal this year for the industry,\" said chief executive S. Gopalakrishnan, adding the company had boosted investment \"to take advantage of the opportunities we see in the market.\" US and other foreign firms, drawn by India\'s English-speaking workforce and lower costs than in the West, have farmed out a wide range of jobs from answering bank client calls to processing insurance claims and equity analysis. Revenues of the Nasdaq-listed company, viewed as an Indian technology bellwether, climbed 22 percent to 72.50 billion rupees in the fourth quarter of the financial year ending March 31, 2010. Analysts had expected revenues to increase 25 percent. Infosys shares were down 8.24 percent at 3,033.60 rupees on the Bombay Stock Exchange in early afternoon amid reports analysts might downgrade the stock after the earnings figures. \"Overall earnings were not attractive. Operating margins were affected by rising staff costs,\" said Sanjeev Hota, an analyst at Mumbai-based brokerage Sharekhan. However, Motilal Ostwal Securities noted the fourth quarter was \"seasonally the weakest\" for the industry as clients finalise their budgets and temporarily curtail spending. News that one of the company\'s key board directors, Mohandas Pai, had decided to step down also undermined investor sentiment. Infosys, founded by seven entrepreneurs three decades ago with an investment of just $250, said Pai \"has much bigger projects in the horizon\". \"Mohan has been an early adopter and a keen anchor builder of Infosys,\" Infosys chairman N.R. Narayana Murthy added. The company - whose market guidance is generally considered conservative - forecast revenues of between $7.13 billion and $7.25 billion in the current fiscal year, up 18-20 percent from the previous year. It also hiked its share earnings forecast by eight to 10 percent.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today infosys reports jump in profits Arab Today, arab today infosys reports jump in profits

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday