Jan 11, 2007

Strong rupee squeezes Infy operating margins

Undeterred by the appreciation of the Indian rupee against the dollar or the rising attrition, the country’s second biggest IT exporter-Infosys Technologies- reported a 51.5% year on year rise in net profit for the third quarter(Q3) ended December 31, 2006. In the process it has hiked its guidance for the fiscal.

Net profit stood at Rs 983 crore(Rs 649 crore for the comparable period in Q3 of FY’06) while total income was up by an equally robust 44.4% at Rs 3,655 crore(Rs 2,532 crore).

On a sequential basis(comparing Q3 with Q2), Infy has seen its net profit rise by 5.8% to Rs 983 crore(Rs 929 crore) while total income rose by 5.9% at Rs 3,655 crore(Rs 3,451 crore).

The total income for Q3 of Rs 3,655 crore was higher than the forecast by the Infy management while announcing the second quarter(Q2) results. The forecast stood between Rs 3,602 crore to Rs 3,625 crore.

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