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Infotech Enterprises
Infotech Enterprises is set to announce its 1QFY2012 results. We expect the company to
post revenue of US$75.5mn, up 5.0% qoq, on the back of strong volume growth
momentum of 6.0% qoq in its ENGG business segment. In rupee terms, revenue is
expected to come in at `337cr, up 3.5% qoq. EBITDA margin is expected to decline by
237bp qoq to 12.0% due to impact of wage hikes (10% to offshore employees and 2% to
onsite employees) given in 1QFY2012. PAT is expected to come in at `11cr. We maintain
our Neutral view on the stock.
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