Infosys has posted a net profit of Rs 2,372 crore for the quarter ended December 31, 2011, a 33.3 per cent growth year-on-year.
The company has registered a growth of 24.4 per cent over the previous quarter.
Revenues were up 30.8 per cent year-on-year to Rs 9,298 crore.
“The global economy, driven by slower growth in developed markets coupled with the European crisis, could impact the growth of the IT industry,” Mr S.D. Shibulal, CEO and Managing Director, said in a press statement.
“Notwithstanding short-term challenges, we are focused on long-term growth opportunities by investing in platforms and solutions - which will accelerate innovation, enhance returns for our clients and deliver higher business value,” he said.
Guidance
For the quarter ending March 31, 2012, the company said that it expects revenues to be in the range of Rs 9,391 crore and Rs 9,412 crore; a year-on-year growth of 29.5 per cent to 29.8 per cent.
“The global currency market continues to be volatile with the Indian rupee depreciating by 11 per cent during the quarter,” said Mr V. Balakrishnan, Member of the board and Chief Financial Officer, in the press statement.
"Managing extreme currency volatility in an uncertain economic environment is going to be a challenge for the industry. We believe our focus on high-quality growth combined with our flexible financial model will position us better during these challenging times," he added.
“Our revamped organisation and the promise of ‘Building Tomorrow’s Enterprise’ is helping us strengthen strategic partnerships with our clients. Our promise of consulting led transformation, optimising operations and accelerating innovation is gaining rapid traction across key markets,” the statement said.
During the quarter, the company added 49 clients and 9,655 employees (net addition of 3,266).
“Products, platforms and solutions continue to gain momentum and accelerate our non-linear growth,” the statement said.
Finacle, the universal banking solution, continued its growth trajectory, adding 10 wins this quarter. The company won over 15 deals this quarter in the Cloud space, and Infosys also signed a memorandum of understanding with Microsoft for Cloud.
With regard to the India Business Unit, the company said it continues to “see traction in the Indian market”.
According to the company, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits was Rs 19,752 crore, as on December 31, 2011.