| Hot Pursuit | Friday, April 13, 2012 09:25 Hrs IST |
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Infosys tumbles on setting weak FY 13 dollar guidance Infosys lost 9.97% to Rs 2,475.60 at 09:16 IST on BSE after the company set a weak forecast in dollar terms for the current year ending 31 March 2013, as the uncertain global economic environment continued to weigh on the software services exporter.
Meanwhile, the BSE Sensex was down 14.23 points, or 0.08% to 17,318.39 On BSE, 1.87 lakh shares were traded in the counter. The stock hit a high of Rs 2,540 and a low of Rs 2,451.25 so far during the day. The stock had hit a 52-week high of Rs 3,316.85 on 13 April 2011. The stock had hit a 52-week low of Rs 2,169 on 25 August 2011. The large-cap IT firm has equity capital of Rs 287.11 crore. Face value per share is Rs 5. Before market hours today, 13 April 2012, Infosys reported a 2.4% fall in consolidated net profit as per IFRS to Rs 2316 crore on 4.8% decline in revenues to Rs 8852 crore in Q4 March 2012 over Q3 December 2011. Infosys and its subsidiaries added 52 clients during Q4 March 2012. The company and its subsidiaries saw gross addition of 10,676 employees and net addition of 4,906 in the reporting quarter. The company and its subsidiaries had 1,49,994 employees as on 31 March 2012. Infosys board of directors recommended a final dividend of Rs 22 per share for fiscal year ended 2012 and a special dividend of Rs 10 per share on account of completion of 10 years of Infosys BPO operations. "The year ahead looks challenging for the IT services industry, with slow recovery in the global markets," said S. D. Shibulal, CEO and Managing Director. "We are executing on our Infosys 3.0 strategy which is meant to deliver high quality growth in the medium to long term. We are making investments and have put in place a structure to deliver on this strategy." On a consolidated basis under IFRS, Infosys expects revenues to be in the range of Rs 9011 crore and Rs 9100 crore in Q1 June 2012, indicating a year on year growth of 20.4% to 21.6%. Earnings per share (EPS) is expected to be Rs 36.89, indicating a year on year growth of 22.4%. For fiscal year ending 31 March 2013, Infosys expects revenues to be in the range of Rs 38431 crore and Rs 39136 crore, a year on year growth of 13.9% to 16.0%. Earnings per share (EPS) is expected to be in the range Rs 158.76 to Rs 161.41, a year on year growth of 9.1% to 10.9%. The guidance is based on conversion of 1 US$ equal to Rs 50.88. In dollar terms, on a consolidated basis under IFRS, Infosys expects revenues to be in the range of $1,771 million and $1,789 million, a year on year growth of 6.0% to 7.1%. Earnings per American Depositary Share (EPADS) is expected to be $0.73; a year on year growth of 9.0%. For the fiscal year ending 31 March 2013, revenues are expected to be in the range of $7,553 million and $7,692 million; a year on year growth of 8.0% to 10.0%. Earnings per American Depositary Share (EPADS) is expected to be in the range of $3.12 to $3.17; a year on year growth of 4.0% to 5.7%. The guidance is based on exchange rates of AUD / USD at 1.04; GBP / USD at 1.60; Euro / USD at 1.33 Infosys is India's second largest IT services exporter after TCS. The company provides business consulting, technology, engineering and outsourcing services to clients in over 30 countries.
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