Infosys Q3 Results: $334M Profit; FY 2010 Expected Revenues $4.75B

Infosys Technologies announced results for the Quarter ended December 31, 2009. Q3 revenues sequentially grew by 6.8%. Revenues were $1,232 million and the Net Income after tax was $334 million for the quarter ended December 31, 2009.

“Global economic recovery seems to be led by the U.S. and the Financial Services, even though IT budgets are expected to be flat in 2010, offshore outsourcing is expected to benefit from this recovery”, says S Gopalakrishnan, CEO and Managing Director.

Business Outlook under IFRS

The company’s consolidated outlook for the quarter ending March 31, 2010 and for the fiscal year ending March 31, 2010, under IFRS (International Financial Reporting Standards), is as follows:

For the Quarter ending March 31, 2010, consolidated revenues are expected to be in the range of $1,240 million and $1,250 million; YoY growth of 10.6% to 11.5%.

For the Fiscal year ending March 31, 2010, consolidated revenues are expected to be in the range of $4.75 billion and $4.76 billion; YoY growth of 1.8% to 2.0%.

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Expansion of services and significant projects

  • During the third quarter, Infosys launched Flypp, an application platform that enables mobile service providers to enhance customer experience with a host of ready-to-use experiential applications across several devices.
  • A health insurance major bought Infosys’s iTransform product suite that assists clients in complying with the U.S. Federal Government’s mandates on HIPAA 5010 and ICD 10 standards, efficiently and cost effectively.
  • A Consumer Packaged Goods (CPG) major bought the ‘Procurement’ module of ‘Supply Chain Visibility’ product suite to cut sourcing cycle times and leakages in procurement spend through better monitoring, compliance and governance mechanisms.
  • One of the largest retailing companies selected Infosys as a partner in its Future Store Initiative to advance cutting-edge technologies and innovative shopping concepts. Infosys was chosen for ShoppingTrip360 solution, an innovative managed service that offers retailers and CPG companies insights into real-time shopper and shelf activity.
  • A grocery retailer in the U.K. partnered with Infosys to develop a new multi-channel web platform to bring about an integrated, wholesome online experience.
  • A leading provider of security testing software solutions engaged Infosys to engineer leading-edge penetrative testing products.
  • Infosys is building a Patient Appointment Scheduling System for a provider of medical laboratory tests and services. The system will allow a patient to schedule an appointment at any of the company’s 1,000-plus patient service centers.
  • Infosys is helping a leading provider of virtualization, networking and Software-as-a-Service (SaaS) technologies to design its architecture for Master Data Management.
  • A telecom service provider sought Infosys’s help to build and manage its online portals and enhance its online presence.
  • Infosys is working with a communications major in the field of wireless 4G development.
  • A manufacturer of language translation software engaged Infosys as a Quality Assurance (QA) partner to design, automate and test its next major release of desktop products suite.
  • A high tech major engaged Infosys to set up a Center of Excellence (CoE) with focus on multiple QA services for several critical applications.
  • An auto major engaged Infosys to implement next-generation Enterprise Resource Planning (ERP) software in its distribution business.
  • A leading turbo machinery manufacturer partnered with Infosys to expand its business through manufacturing engineering, manufacturing process standardization, setting up of manufacturing facilities for turbo machinery remanufacturing.
[source: PTI]

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