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Infosys announces financial results for Q32009 |
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Indian information technology major Infosys has reported financial results for Q32009, for the quarter ended 31 December, 2009. Infosys' revenues were $1,232 million, with quarter-on-quarter growth ebing 6.8% and year-on-year growth being 5.2%. Net income after tax was $334 million for the quarter ended December 31, 2009 growing 5.4% against the previous quarter, and 0.6% against Q32008. Earnings per American Depositary Share (ADS) were 0.59 for the quarter ended December 31, 2009, reporting a growth of 5.4% against the previous quarter, and 1.7% against the same quarter during the last year.  "Global economic recovery seems to be led by the U.S. and the Financial Services," said S. Gopalakrishnan, CEO and Managing Director. "Even though IT budgets are expected to be flat in 2010, offshore outsourcing is expected to benefit from this recovery. "The rupee appreciated by 3.7% during the quarter," said V. Balakrishnan, Chief Financial Officer. "We maintained our margins while our cash and cash equivalents reached $3.1 billion." Infosys' business outlook (consolidated) for the quarter ending March 31, 2010 and for the fiscal year ending March 31, 2010, is as follows: Outlook - Quarter ending March 31, 2010
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