IT major Infosys came out with better than expected results and has set up a positive outlook for the Q2 figures for IT companies, with its consolidated net profit at Rs 1,737 crore, a consistent growth of 17%. The operating profit margin increased by 188 basis points to 30.2%, confirming the improved demand scenario in the IT services. Volume growth of 7.2% q-o-q in Q2 along with a 3.2% improvement in realizations added to its top line growth. A rise of 12% in the selling and marketing expenses was offset by an equivalent growth in the other income over the last quarter. Though its net staff additions were higher at 7,646 people, utilisations rose an impressive 74.3%.
Management has expressed their concern regarding the rupee-dollar fluctuations which was a probable reason for 3.5% fall in the stock prices during the day
Infosys raised its full year guidance reflecting a growth of 18.5-19.4% over FY10, against the June quarter guidance of 16.3-18.2% growth.
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