Bangalore: Software major Infosys Technologies on July 10 reported a 28.25 per cent jump in net profit
at Rs 278.12 crore for the quarter ended June 30, 2003, over the corresponding period of the last fiscal,
and revised upwards its revenue and earnings per share (EPS) guidance for the current financial year.
The NASDAQ-listed, Bangalore-headquartered company's revenue clocked a robust 41.51 per cent
growth at Rs 1,081.98 crore.
The company increased the guidance for revenue and EPS for 2003-04.
Income from software development services and products is projected to be between Rs 4,420 crore
and Rs 4,483 crore, and EPS is expected to be between Rs 168.20 and Rs 168.50, the software
bellwether said on the latest outlook.
Earlier, it had said the figure is expected to be between Rs 4,408 crore and Rs 4,479 crore, and
between Rs 161 and Rs 163, respectively.
For Q1 of 2003-04, Infosys EPS increased to Rs 41.98 from Rs 32.76 for the corresponding quarter
of the previous year, an increase of 28.14 per cent, as per the audited first quarter financial results
released after the Infosys board meeting in Bangalore.
Infosys added 22 new clients during the quarter ended June 30, 2003.
"There is an increased interest in offshore outsourcing as global corporations realise its benefits.
Business opportunities continue to grow. However, the pricing environment remains challenging",
chief executive office (CEO), president and managing director Nandan M Nilekani said.
He added, "Our value proposition to clients remains strongly differentiated, despite the
increasing presence of global competitors."
Results for the quarter ended June 30, 2003
The audited financial results, according to Indian GAAP, for the quarter ended June 30, 2003 were taken on record by the Board at its meeting held on July 10, 2003.
The profit and loss account is summarised below : in Rs. crore, except per share data
| Particulars |
Quarter ended June 30 |
Growth% |
Quarter ended March 31, 2003 |
Growth % in Q1 FY 2004 over Q4 FY 2003 |
| 2003 |
2002 |
| Income |
|
| Software services and products |
|
| Overseas |
1058.65 |
750.52 |
41.06 |
990.57 |
6.87 |
| Domestic |
23.33 |
14.10 |
65.46 |
29.28 |
(20.32) |
| TOTAL INCOME |
1081.98 |
764.62 |
41.51 |
1019.85 |
6.09 |
| SOFTWARE DEVELOPMENT EXPENSES |
572.78 |
377.39 |
51.83 |
529.80 |
8.15 |
| GROSS PROFIT |
509.20 |
387.23 |
31.50 |
490.05 |
3.91 |
| Selling and marketing expenses |
79.72 |
55.09 |
44.71 |
68.96 |
15.60 |
| General and administration expenses |
81.18 |
57.21 |
41.90 |
80.72 |
0.57 |
| OPERATING PROFIT (EBIDTA) |
348.30 |
274.93 |
26.69 |
340.37 |
2.33 |
| Interest |
- |
- |
- |
- |
- |
| Depreciation and amortization |
44.26 |
40.48 |
9.34 |
52.75 |
(16.09) |
| OPERATING PROFIT AFTER INTEREST, DEPRECIATION AND AMORTIZATION |
304.04 |
234.45 |
29.68 |
287.62 |
5.71 |
| Other income |
32.44 |
24.90 |
30.28 |
27.38 |
18.48 |
| Provision for investments |
6.36 |
- |
- |
- |
- |
| PROFIT BEFORE TAX |
330.12 |
259.35 |
27.29 |
315.00 |
4.80 |
| Provision for taxation |
52.00 |
42.50 |
22.35 |
56.00 |
(7.14) |
| PROFIT AFTER TAX |
278.12 |
216.85 |
28.25 |
259.00 |
7.38 |
| EARNINGS PER SHARE
(Equity shares, par value Rs. 5/- each)
|
|
|
|
|
|
| Basic |
41.98 |
32.76 |
28.14 |
39.10 |
7.37 |
| Diluted |
41.83 |
32.46 |
28.87 |
38.59 |
8.40 |
PTI
