Mumbai, Jan 13:Infosys Technologies declared its third quarter numbers of Financial Year 2009, on Tuesday Jan 13. It seems the global recession did not have much impact on Infosys. It has handsome year on year growth of 35.5 per cent in Infosys Estimated Q3 performance of cos sales for the third quarter.
Sales for the Dec quarter rose to Rs 5,786 crore from Rs 4,271 crore same period last year.
However, the sales growth has considerably slowed from the last quarter"s in percentage term. Infosys posted a quarter-on-quarter growth of just 6.8 per cent against 11.6 per cent reported for the September quarter. For the September quarter, the sales stood at Rs 5,418 crore.
Its consolidated net profit went up by 14.6 per cent at Rs 1,641 crore as against Rs 1,432 crore in previous quarter of FY08-09. On the net profit front, Infosys has shown a growth of 14.6 per cent from September quarter as against 10 per cent in June quarter due to lower sales, marketing and administration expenses which declined by 7.2 per cent during the December quarter.
The basic EPS rose to Rs 28.6 against Rs 25 in the last quarter.Surprisingly, although the US economy is into deep recession led by slump in realty and banking sector, Infosys garnered about 64.5 per cent of its total revenue from North America as against 61.5 per cent in September and 62.6 per cent in June quarter.
Also, the major vertical remained insurance, banking and financial with a share of 34.9 per cent against 33.4 per cent in September and 34.5 per cent in the June quarter. Infosys' pricing is down 1.8 per cent QoQ, but the company is looking at pricing as portfolio approach. However, it feels that the pricing may be under pressure if macro situation remains bad.
The management said some clients are looking at freezing budgets and are expecting more clarity in February. While, most clients say they are looking to increase allocations. The company expects clients' budget in 2009 'flat to down'.
Infosys doesn't see any secular downtrend in telecom business, but sees currency impact now. It said that 67 per cent of its cash is with PSU banks. On NSE at 10:11 am, Infosys was trading 2.17 per cent higher at Rs 1184.90 while the CNX-IT index was down about 1.04 per cent.
OneIndia News (With inputs from Agencies)