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Infosys posts spectacular performance - Views on News from Equitymaster
 
 
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  • Oct 10, 2000

    Infosys posts spectacular performance

    Infosys Technologies Ltd. has announced its results today that were better than market expectations. The 134 % increase in profits of the company in 2QFY01 compared to corresponding previous quarter was higher than analysts expectations. The company has posted quarter on quarter 22% growth in the profits.

    The company's net margins are declined to 34.5% in the current quarter compared to 35.7% in 1QFY01.

    (Rs m) 1QFY01 2QFY01 Change
    Sales 3,555 4,461 25.5%
    Other Income 151 196 29.5%
    Profit after Tax/(Loss) 1,268 1,540 21.5%
    Net profit margin (%) 35.7% 34.5%  
    No. of Shares (eoy) (m) 66.1 66.1  
    Diluted number of shares 66.1 66.1  
    Diluted Earnings per share* 76.7 93.1  
    *(annualised)

    The company continues to expand its client base and has added 27 new clients during this quarter. The top 5 customers of the company contributes 24.9% of its total revenues and there are only 2 clients accounting for more than 5% of revenues. Thus Infosys has de-risked its revenue model through well diversified technology mix and limiting client concentration.

    At the current market price of Rs 7,316 Infosys is trading at a P/E of 86 times its first half annualised earnings. The company has always enjoyed premium valuations in the market led by its ability to maintain a high growth rate and its high management credibility. The results declared by Infosys may set the trend for valuations in the beaten-down software sector and could trigger buying sentiment.

     

     

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