Shares of IT bellwether Infosys slumped nearly 8% to Rs 1664 after the company said at the time of announcing Q1 June 2008 results today that the business environment was tough.
The stock hit a high of Rs 1876 and low of Rs 1641 so far in the day. The stock hit 52-week high of Rs 2,140 on
The company has an equity capital of Rs 286.17 crore. Face value per share is Rs 5.
The current price of Rs 1,664 discounts its Q1 June 2008 annualised EPS of Rs 88.80 (based on consolidated financial performance as per Indian GAAP), by a PE multiple of 18.73.
Infosys’ chief operating officer S.D. Shibulal said he expected pricing to remain stable in the current year ending March 2009 (FY 2009), with no opportunity for uptick.
Infosys has revised upwards earnings and revenue guidance for the year ending March 2009 (FY 2009) as per Indian GAAP but it has kept its earnings and revenue guidance in dollar terms i.e. as per US GAAP unchanged. The upward revision in earnings and revenue guidance in rupee terms is due to sharp fall in rupee against the dollar.
Infosys’ consolidated net profit as per Indian GAAP rose 4.2% to Rs 1302 crore on 6.8% growth in revenue to Rs 4854 crore in Q1 June 2008 over Q4 March 2008.
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.
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.
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