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News >> Technology >>
Infosys Q3 net profit jumps 31%, meets forecasts
By agencies
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Wednesday, 11 January 2006, 20:30 IST
BANGALORE: IndiaÂ’s second largest software exporter, Infosys Technologies Ltd., today said third-quarter profit gained 31 percent after services such as consulting and business software installation helped the company win more orders.
Net income rose to $146 million in the three months ended Dec. 31, the Bangalore-based company said in a statement today.
Infosys' CEO, president and managing director, Nandan M Nilekani, said after the result announcement, "We have seen another quarter of steady growth and our initiatives in strategic alignment, capability building and operational excellence are all on track."
Infosys' Q3-05 results were broadly in-line with the consensus expectations. The company's shares have gained nearly 20 percent in the past quarter.
While announcing the outlook under the U.S. GAAP method, Infosys has forecasted consolidated revenue in the range of $584-$585 million, with YoY growth of 27.91- 28.35 percent for the quarter ending March 31, 2006. The company has forecasted Q4-06 consolidated earnings per American Depositary Share (ADS) between $0.55 and $0.56, with YoY growth of 17.02 - 19.15 percent.
For the fiscal year ending March 31, 2006, the company has forecasted consolidated revenues to be $2.14 billion; with growth of 34.59 percent, and consolidated earnings per ADS to be between $2.04-$2.05, with a growth of 29.94-30.57 percent.