Infosys given upward revision in FY 2009 guidance

Infosys posted 4.2% growth in consolidated net profit to Rs 1302 crore in Q1 June 2008 over Q4 March 2008.

The stock had a 52-week high of Rs 2,140 on 10 October 2007 and a 52-week low of Rs 1,212.20 on 22 January 2008.

The company has an equity capital of Rs 286.17 crore. Face value per share is Rs 5.

The current price of Rs 1,762 discounts its Q4 March 2008 annualised EPS of Rs 82.66, by a

PE multiple of 21.31.

The company’s revenue rose 6.8% to Rs 4854 crore in Q1 June 2008 over Q4 March 2008.

Infosys has revised upwards earnings and revenue guidance for the year ending March 2009 (FY 2009). Infosys has forecast 24.4% to 26.6% growth in earnings per share as per Indian GAAP at between Rs 98.79 to Rs 100.51 in FY 2009 over the year ended March 2008 (FY 2008). It has forecast a between 27.5% to 29.5% growth in revenue at between Rs 21278 crore and Rs. 21622 crore in FY 2009 over FY 2008.

However, Infosys has not revised its earnings as well as revenue guidance in dollar terms i.e. as per US GAAP which means that the upward revision in earnings and revenue guidance as per Indian GAAP is just due to a sharp fall in rupee against the dollar.

Infosys provides information technology (IT) services. The group's services include consulting, software development, software re-engineering, systems integration, package evaluation and implementation, software maintenance and business process management.