Infosys posts 25 percent jump in Q4 net profit on revival path

Country's second largest software services firm Infosys on Tuesday reported 25 percent jump in net profit at Rs. 2,992 crores for the quarter ended March 31, 2014, as compared to Rs. 2,394 crores in the same period last fiscal.

The company's revenue for the reported quarter was up 23.2 percent to Rs. 12,875 crores from Rs. 10,454 crores in the year-ago period.

The Bangalore-based firm, which is on a revival path following the return of its co-founder N R Narayana Murthy at the helm of affairs, has forecast a conservative outlook of 7 to 9 percent revenue growth in dollar terms for the financial year 2014-15.

In dollar terms, the company's profit grew 9.7 percent to $487 million in the reported quarter while revenue was up by 7.9 percent to $2.09 billion in the quarter under review.

For FY'14, net profit grew 1.5 percent to $1.75 billion, while revenue was up 11.5 percent to $8.2 billion over the previous fiscal.

"I am pleased that we have been able to double our growth rate for the full year compared to last year, though performance in the last quarter of FY'14 has been disappointing," Infosys CEO and Managing Director S D Shibulal said in a statement.

Infosys has guided a revenue growth of 7-9 percent (in dollar terms) next year and remains firmly focused on building the growth momentum by making all the necessary investments in its business, he added.

Sequentially, the company's net profit was up 4.1 percent from Rs. 2,875 crores in the October-December 2013 quarter, while revenue was lower by 1.2 percent from Rs. 13,026 crores.

For FY'14, the net profit was up 13 percent at Rs. 10,648 crores and revenue grew 24.2 percent to Rs. 50,133 crores.

North America accounted for 59.8 percent of the revenues, Europe (25.2 percent), India (2.6 percent) and Rest of the World (12.4 percent).