Infosys Technologies has reported a 29% year-on-year increase in its Q4 net profit on improved operating margins, but forecast a decline in its revenue and earnings as many of its clients have been hit by the global financial crisis.
Net profit after tax (PAT) surged to Rs1,613 crore in the recently concluded quarter, up 29.1 per cent from the year-ago period. The revenue rose 24.1 per cent to Rs5,635 crore on year-on-year basis.
“The FY10 US$ revenue guidance (-6.7% to -3.1%) was better than expectations (-8% to flat). While guidance factors in a pricing cut of 6-6.5%, we see 8% cut as more likely,” said an analyst with BRICS Securities.
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