Infosys results surprise with 4.2% topline growth

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ENS Economic Bureau: Bangalore, Jan 12 2013, 00:59 IST

Infosys Technologies on Friday sprang a surprise on the markets with a better-than expected 4.2 per cent quarter-on-quarter growth in its revenues for the third quarter results at $1,872 million.

The technology major also raised its revenue guidance for this fiscal in US dollar terms to at least $7.45 billion from its previous projection of $7.34 billion, sending its shares soaring by 16.9 per cent on the BSE to close at Rs 2,712.60, its biggest gain since April 2001.

The company had, late last year, indicated that its performance was unlikely to improve after a drab first two quarters of the year. The numbers reported did not include revenues from its recent European acquisition of Lodestone. Infosys revenues, including that of Lodestone was reported at $1,911 million, up 6.3 per cent over the second quarter of the fiscal. The net income for the quarter was recorded at $ 434 million.

“We have done well in this quarter despite an uncertain environment. We continue to gain confidence from a strong pipeline of large deals. Even so, we remain cautiously optimistic about the January-March quarter,” Infosys CEO and MD SD Shibulal said.

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