MUMBAI: InfosysBSE -17.44 % Ltd, India's No 2 IT services exporter, marginally beat analyst estimates on Friday with a 3.4 per cent rise in quarterly profit as the company won orders from customers including German automaker BMW.
The company said it expected 2013/14 revenue to grow 6-10 per cent, lower than market expectations of 12 percent, and added that global economic uncertainties remain challenging for the industry.
Consolidated net profit for the fiscal fourth quarter ended March 31 was Rs 2390 crore ($438 million), compared with Rs 2316 crore in the same period a year earlier.
That compared with an average estimate of Rs 2300 crore in a survey of 18 analysts by Thomson Reuters I/B/E/S.
Analysts take on Infosys results
SURESH PARMAR, ASSOCIATE VICE PRESIDENT AND HEAD OF INSTITUTIONAL EQUITIES, KJMC CAPITAL MARKETS, MUMBAI
"The outlook is slightly negative compared to the expectations. We expect selling pressure in the short-term as the stock ran up sharply in the past couple of sessions. Investors who took positions are likely to cut exposure and wait for further clarity to take a fresh bet on the stock."
G CHOKKALINGAM, EXECUTIVE DIRECTOR & CHIEF INVESTMENT OFFICER, CENTRUM WEALTH MANAGEMENT, DELHI
"Only the perception has changed, the business remains a bit lumpy for Infosys.
"The company is growing in single digits in US dollar terms which is not good. The stock should fall atleast 5-10 percent on these results."
NIMISH JOSHI, EQUITY ANALYST, CLSA, MUMBAI
"The results are very bad; very, very bad. The guidance is especially bad."
