On April 13, 2010, Infosys, the second largest software services export firm in India, released its financial results for the fourth quarter for FY 2010. Compared to the same quarter in 2009, there was a 1.14% rise in net profit to Rs. 1,600 crore against Rs. 1,582 crore. Revenue increased 3.54% to Rs. 5,944 crore against Rs.5,741 crore on quarter-over-quarter basis. Net sales stood at Rs. 22,742 crore for FY 2010 ending on March 31, 2010 against Rs. 21,693 in the same time previous year.
In terms of dollar, Infosys predicts 16-18% growth in revenues between $5.57 billion and $5.67 billion and a 4.3-8.6% growth in earnings per share for FY 2011.
In terms of Rupee, Infosys lowered its prediction for FY2011 due to rise in Rupee value, increased wages and intense competition from other players in the sector. It expects earnings per share at Rs.106.82 -111.28 which disappointed the investors. The company management said that clients are not ready for long term spending.
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