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Infosys
Infosys is slated to announce its 2QFY2012 results. We expect a modest performance by
the company, with revenue at US$1,748mn vs. US$1,671mn in 1QFY2012, up 4.6% qoq,
led by strong volume growth of 5.0% qoq. In rupee terms, the company’s revenue is
expected to grow by 6.7% qoq to `7,988cr. EBITDA margin is expected to expand by
108bp qoq to 30.2% as wage hikes given in 1QFY2012 will partially get absorbed. PAT is
expected to come in at `1,851cr.
Key points to watch out for are a) management’s commentary on the macro picture and
initial sense of client budgets for CY2012 and b) revision, if any, in dollar revenue growth
guidance for FY2012. We maintain our Accumulate recommendation on the stock with a
target price of `2,705.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Preview
Infosys
Infosys is slated to announce its 2QFY2012 results. We expect a modest performance by
the company, with revenue at US$1,748mn vs. US$1,671mn in 1QFY2012, up 4.6% qoq,
led by strong volume growth of 5.0% qoq. In rupee terms, the company’s revenue is
expected to grow by 6.7% qoq to `7,988cr. EBITDA margin is expected to expand by
108bp qoq to 30.2% as wage hikes given in 1QFY2012 will partially get absorbed. PAT is
expected to come in at `1,851cr.
Key points to watch out for are a) management’s commentary on the macro picture and
initial sense of client budgets for CY2012 and b) revision, if any, in dollar revenue growth
guidance for FY2012. We maintain our Accumulate recommendation on the stock with a
target price of `2,705.
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