India's second largest software exporter, Infosys today reported 24.98% growth in consolidated net profit to Rs 29.92 billion for the quarter ended Mar. 31, 2014 as compared to Rs 23.94 billion in the same period last year. On quarter on quarter basis, it posted a rise of 4.07% in the net profit. Market was expecting profit to come at Rs 28.35 billion.
Revenues has increased to Rs 128.8 billion for the quarter ended Mar. 31, 2014 from Rs 104.5 billion for the year ended Mar. 31, 2013, representing an increase of 23.16%. On quarter on quarter basis, it posted a fall of 1.16% in the revenues.
Fourth quarter operating margins expanded 50 bps sequentially to 25.5%.
The company reported a growth of 24.2% in FY14 revenues. It expects FY 15 revenues to grow 5.6%-7.6% in INR terms.
Dividend pay-out ratio increased to 40% of post-tax profits from 30% earlier.
Infosys and its subsidiaries added 50 clients during the quarter and 238 during the year. Gross addition of 10,997 employees during the quarter and 39,985 during the year by Infosys and its subsidiaries. The company is having 160,405 employees as on Mar. 31, 2014 .
''I am pleased that we have been able to double our growth rate for the full year compared to last year, though performance in the last quarter of FY 14 has been disappointing.” said S D Shibulal, CEO and Managing Director.
''We have guided for a revenue growth of 7%-9% next year and remain firmly focused on building the growth momentum by making all the necessary investments in our business.''
''Our cash and cash equivalents crossed Rs 300 billion during the quarter. We have increased the dividend payout ratio to up to 40% of post-tax profits effective FY 14 to enhance returns for our shareholders,'' said Rajiv Bansal, Chief Financial Officer.
''Revenues are expected to grow 5.6%-7.6% (consolidated) for the fiscal year ending March 31, 2015, under IFRS,'' the company said.
Shares of the company gained Rs 113.25, or 3.5%, to trade at Rs 3,349.10. The total volume of shares traded was 41,386 at the BSE (9.22 a.m., Tuesday).
