Infosys results up over 14% at Rs 1,780 cr for Q3

MUMBAI: IT bellwether Infosys Technologies on Thursday reported 14.17 per cent growth in consolidated net profit at Rs 1,780 crore for the third quarter ended December 31, 2010.


The company had a net profit of Rs 1,559 crore in the December quarter of the previous fiscal (2009-10), Infosys said in a filing to the Bombay Stock Exchange.

The consolidated revenue of the country's second largest software exporter rose to Rs 7,106 crore against Rs 5,741 crore over the year-ago period.

"The weaker economic recovery in developed markets coupled with high unemployment and risk of sovereign default could impact industry growth. We are closely working with our clients, as they fine tune their strategies for the future," Infosys CEO and MD S Gopalakrishnan said.

For the Q4 ending March 31, the company expects the revenues to be in the range of Rs 7157- Rs 7,230 crore, while it anticipates the revenue for the full year ending March 31, 2011, in the range of Rs 27,408- Rs 27,481 crore.

Besides, the company has appointed R Seshasayee as an Additional Director with immediate effect. The appointment is subject to the shareholders approval.

On the standalone basis, the company has reported 11.55 per cent growth in its net profit at Rs 1,641 in Q3 2010-11, over the same period in the previous fiscal.

Income rose to Rs 6,534 crore in the October-December quarter, against Rs 5,335 crore in the same period last fiscal.

Here are what analysts had to say about Infosus Q3 results:

ADRIAN LIM, FUND MANAGER, ABERDEEN GLOBAL INDIAN EQUITY FUND, SINGAPORE:

"(Results are) fair in view of the challenges that the sector has to deal with."

"Indian outsourcing continues to provide a competitive product. It has very strong execution track record and ability; and pricing positions it as a valuable resource to its customers. Infosys is also one of the strongest operators here."

"(Rupee volatility) is a short-term issue, not a large concern."

TARUN SISODIA, HEAD OF RESEARCH, ANAND RATHI FINANCIAL SERVICES:

"The results are marginally lower and guidance doen not reflect growth rates that the market expected. But I would not be concerned as they normally surpass their guidance."

"I wouldn't say these results will reflect in the rest of the IT sector earnings . We continue to maintain that investors should continue to remain exposed to sector stocks."

Resource:- http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-news/infosys-results-up-over-14-at-rs-1780-cr-for-q3/articleshow/7274052.cms

IndiGo orders 180 airplanes; sets a record in commercial aviation history

MUMBAI: Low-cost carrier IndiGo has placed firm orders for 180 Airbus 320 aircraft at an estimated cost of $ 15.6 billion. The order is the single largest for jets, in terms of volume, to be ever placed in the commercial aviation history.

It is not the first time that IndiGo has placed a brow-raising order though. The Gurgaon-based private carrier created ripples in the 2005 Paris airshow with an announcement to buy 100 A320s. Currently, the airline flies 34 A320s to 25 domestic destinations and plans to go international by August this year.

The airline signed a Memorandum of Understanding for 180 eco-efficient Airbus A320 aircraft of which 150 will be A320 NEO, said an Airbus spokesperson adding that the order was the largest in history. The A320 New Engine Option or NEO runs more efficient engines will be available from 2016 onwards. The aircraft has specially designed wing tips -- called Sharklets by Airbus -- that will reduce the aerodynamic drag which develops at the wingtips of a moving aircraft in the form of vortices. Sharklets will lad to fuel savings of up to 15 percent, which is up to 3,600 tonnes of CO2 annually per aircraft, says Airbus. The Neo will also provide a double-digit reduction in nitrogen oxides and will have a reduced engine noise.

"This order for industry leading fuel efficient aircraft will allow IndiGo to continue to offer low fares," said Rakesh Gangwal and Rahul Bhatia, co-founders of IndiGo. "Ordering more A320s was the natural choice to meet India's growing flying needs. The opportunity to reduce costs and to further improve our environmental performance through the A320neo were key to our decision." John Leahy, Airbus, Chief Operating Officer Customers said: ``The A320 NEO, offering maximum benefit for minimum change, will ensure that this continues to be the case for many years to come. This order positions IndiGo to take full advantage of the predicted growth in Indian air travel." The A320NEO will have over 95% airframe commonality with the A320 family while offering up to 500nm (950 km) more range or two tonnes more payload.

Read more: IndiGo orders 180 airplanes; sets a record in commercial aviation history - The Times of India http://timesofindia.indiatimes.com/business/india-business/IndiGo-orders-180-airplanes-sets-a-record-in-commercial-aviation-history/articleshow/7267934.cms#ixzz1AoXPMEqM