Infosys Q1 EBIT Updates Live Commentary and views :-
Infosys Q1 EBIT margin has come in at 28% versus 29.9%, operating profit at Rs 2693 crores versus Rs 2647 crores (QoQ), reports ET Now. Management cuts FY13 sales guidance, sees FY13 revenue at $73.4 bn, up 5%. The stock is currently trading at Rs 2261.95, down 8.3% on the BSE.
Infosys attrition has come in at 14.9% versus 14.7% (QoQ), added 51 clients in Q1, reports NDTV Profit. The stock is currently trading at Rs 2236.70, down 9.3% on the BSE.
Infosys cuts dollar guidance more than expected, to 5%, reports NDTV Profit. Company added 51 clients in Q1. The stock is currently trading at Rs 2257.65, down 8.5% on the BSE.
"Infosys performance is below street expectations. As far as specific verticals are concerned, BFSI has done badly. The company was chasing deals worth 2-3 billlion dollars in the telecom space. Big questions are on the accquisition and wage hikes. This year TCS is expected to lead the IT services pack followed by Wipro. Rupee depreciation seems to have helped Infosys's overall growth." - Deepak Kaushik, CEO of FinAKS advisory services.
"Overall, disappointing results from the IT major as revenue in dollar terms dropped 1.07 per cent to $1,752 million from $1,771 million and even earnings per share slipped to $0.73 from $0.81 a share. Guidance too was revised to 5 per cent from 8-10 per cent earlier.
On the technical front, Infosys has a major support at Rs 2200 and if it breaches this level, then even Rs 2000 levels are possible." - AK Prabhakar, Anand Rathi
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