Mumbai, Apr 13: IT bellwether Infosys on Friday reported a 27.4 per cent jump in consolidated net profit at Rs 2,316 crore for the fourth quarter ended March 31, 2012.
This is against a net profit of Rs 1,818 crore reported in the January-March quarter of the last fiscal (2010-11), Infosys said in a filing to the BSE.
However, on a quarter-on-quarter basis, the net profit declined by 2.4 per cent. Revenues rose 22 per cent to Rs 8,852 crore for the quarter from Rs 7,250 crore in the year-ago period.
“We had a very difficult quarter with revenues declining sequentially... The global currency market volatility continues to be a challenge for the industry,” Infosys Chief Financial Officer V. Balakrishnan said.
Infosys while announcing its third quarter results earlier had given the Q4 revenue guidance in the range of Rs 9,391 crore-Rs 9,412 crore, and anticipated revenue for the full year ending March 31, 2012, in the range of Rs 34,273 crore-Rs 34,294 crore.
The company expects revenue in the range of Rs 9,011 crore-Rs 9,100 crore for the quarter ending June 30, and in the range of Rs 38,431 crore-Rs 39,136 crore for the FY'13.
The company, however, has warned of challenging times ahead. “The year ahead looks challenging for the IT industry with slow recovery in the global markets. We are executing on our Infosys 3.0 strategy, which is meant to deliver high quality growth in the medium to long-term. We are making investments and have put in place a structure to deliver on this strategy,” Infosys CEO S.D. Shibulal said.
For the year ended March 31, the IT bellwether posted a consolidated net profit of Rs 8,316 crore, up 21.88 per cent from Rs 6,823 crore over the year-ago period.
During the fiscal, revenue rose 22.66 per cent to Rs 33,734 crore from Rs 27,501 crore in 2010-11.
Further, as on March 31, 2012, cash and cash equivalents, including investments in available-for-sale financial assets and certificates of deposits, was Rs 20,968 crore against Rs 16,810 crore.