Infosys Q4 result signals turn in trajectory of firm’s revenue growth
Indian software giant Infosys' performance in the last quarter prompted analysts to say that the results signal a turn in trajectory of the company's revenue growth.
Infosys recently reported a consolidated net profit of Rs 2,369 crore for the October to December quarter. The net profit remained unchanged quarter-on-quarter, but it was better than expected.
Revenue jumped nearly 6 per cent quarter-on-quarter and 12 per cent year-on-year to Rs 10,424 crore in the three months under review.
Bhuvnesh Singh and Vaibhav Dhasmana, analysts with Barclays, said, "We believe Infosys's results signal a turn in trajectory of the revenue growth... we believe this could reflect some initial success in the company's new, more aggressive strategy."
Ashish Chopra, an analyst with Motilal Oswal Sec, said that the Bangalore-based company's organic growth guidance of 5.1 per cent in final quarter of 2012 versus its estimate of 3.5 per cent is a positive surprise.
Infosys increased its dollar revenue forecast for the full current fiscal year from $7.34 billion to $7.45 billion, or from Rs 39,580 crore to Rs 40,750 crore.
The stock opened up 10 per cent on Friday and by noon had gained 16 per cent to Rs 2,695 on the National Stock Exchange (NSE).