Infosys: Meets topline expectations - Views on News from Equitymaster

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Infosys: Meets topline expectations

Jan 10, 2003

Infosys has posted a 13.5% sequential growth in net profits for 3QFY03. This is on the back of a 9% sequential growth in topline. On a YoY basis, the revenues are up 45% and the net profits have increased by 24%. While the topline growth is slightly ahead of market expectations, the net profits have fallen marginally short of street expectations.

(Rs m) 2QFY03 3QFY03 Change 9mFY02 9mFY03 Change
Sales 8,796 9,586 9.0% 19,235 26,028 35.3%
Other Income 175 298 70.0% 431 722 67.6%
Expenditure 5,563 6,251.50 12.4% 11,566 16,712 44.5%
Operating Profit (EBDIT) 3,232 3,335 3.2% 7,669 9,316.6 21.5%
Operating Profit Margin (%) 36.7% 34.8%   39.9% 35.8%  
Interest - -        
Depreciation 462 495 7.0% 1,158 1,362 17.6%
Profit before Tax 2,945 3,138 6.5% 6,941 8,677 25.0%
Extra-ordinary income/(expense) (238) -     (238)  
Tax 450 575 27.8% 965 1,450 50.3%
Profit after Tax/(Loss) 2,258 2,563 13.5% 5,976 6,989 17.0%
Net profit margin (%) 25.7% 26.7%   31.1% 26.9%  
Diluted number of shares 66.2 66.2   66.2 66.2  
Diluted Earnings per share* 136.4 154.9   120.4 140.8  
P/E (x)   29.6     32.6  
*(annualised)            

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