Infosys Climb Continues as it Prepares for Reshuffle

Indian tech services company Infosys has announced its financial results for the quarter ended June 30, 2011.

The company’s revenues were $1,671 million for the quarter ended June 30, 2011; QoQ growth was 4.3%; YoY growth was 23%. It says its net income after tax was $384 million for the quarter with QoQ decline of 4.5% and YoY growth of 17.8%.

The earnings per American Depositary Share (EPADS) was $ 0.67 with 4.3% QoQ decline and 17.5% YoY growth.

[ Also Read: 10 Simple Reasons I Love My Country India ]

An encouraging development for the company has been the addition of 26 clients for its services while it hired 9,922 employees with net addition of 2,740 for the quarter. As on June 30, 2011, there were 133,560 employees with Infosys and its subsidiaries.

Recently, the Board of Directors of Infosys had announced top-level changes to the Board. While N. R. Narayana Murthy was appointed Chairman Emeritus, K. V. Kamath was named the Chairman of the Board. The appointments are effective from August 21, 2011. (Read: Kamath Comes, Murthy Goes from Infosys)

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“We have re-organized the company to be more industry domain focused which will accelerate innovation and make us more responsive to clients’ needs” said S. Gopalakrishnan (pictured above), CEO and managing director. “We believe that Infosys is well positioned to be a transformational partner for large clients even as they navigate through uncertain times.”

[ Also Read: Why Companies Like Infosys Consistently Fail ]

Revenues for the quarter ending September 30, 2011 are expected to be in the range of $1,730 million and $1,755 million with YoY growth of 15.6% to 17.3%.

And revenues for fiscal year ending March 31, 2012 are expected to be in the range of $7.13 billion and $7.25 billion with YoY growth of 18% to 20%.

The results were declared today, July 12.

Photo courtesy: Infosys

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