Earnings Coverage - Infosys
Editor Note: For more information about this release, please scroll to bottom.
LONDON, October 13, 2014 /PRNewswire/ --
Investor-Edge.com has issued free post-earning research on Infosys Ltd (NYSE: INFY). On October 10, 2014, the company reported financial results for Q2 FY15 (period ended September 30, 2014). Click on www.investor-edge.com/FreeReports to read our free earnings review on Infosys. During Q2 FY15, Infosys Ltd's revenue increased 6.5% on a Y-o-Y basis and its net profit surged 33.4% from the year ago quarter. Our free coverage report can be accessed at:
www.investor-edge.com/register
Earnings Overview
During Q2 FY15, Infosys Ltd's revenue increased to 2,201 million from 2,066 million in the previous year. The company's reported quarter revenue came slightly above the Bloomberg analysts' forecasts of $2,199 million. On a constant currency basis, the company's Q2 FY15 revenue grew 6.3% Y-o-Y to $2,217 million. The free research on INFY can be downloaded as in PDF format at:
www.Investor-Edge.com/INFYFreeReport
Infosys Ltd's net profit during the reported quarter stood at $511 million, compared to $383 million in Q2 FY14. On a per share basis, the company's basic and diluted earnings surged 32.8% Y-o-Y to $0.89 per share from $0.67 per share in the preceding year quarter. Analysts from Bloomberg had expected the company to report net profit of $465 million or $0.81 per share in Q2 FY15.
Dr. Vishal Sikka, CEO and Managing Director of Infosys, stated that since digital transformation is reshaping the business of all its clients, the company sees a great opportunity to help them to renew the core of their business as well as to expand into new frontiers, in which it is already seeing early positive results. He further said that it is the company's strategy is to apply the same principles to its own business in order to capture this opportunity and accelerate growth, within its culture of lifelong learning and purposeful work.
Commenting on the results, U. B. Pravin Rao, COO of Infosys, stated that on several fronts the company's efforts to bring in operational efficiencies yielded encouraging results during the quarter, with some of its interventions on sales, margins and attrition leading to positive results. The COO said that the company will continue to focus on these areas. Further, Rajiv Bansal, CFO of Infosys, stated that the company has been able to improve its margins during the quarter and strongly believes that these can be sustained within a narrow band, thus boosting its confidence to make investments required to meet its growth aspirations. Sign up and read the free analyst's notes on INFY at:
www.Investor-Edge.com/INFY-13102014
Infosys and its subsidiaries added 49 clients (gross) and 14,255 employees (gross) during the reported quarter. In addition, Infosys declared an interim dividend of INR 30 per share (equivalent to approximately $0.49 per American Depositary Shares at the exchange rate of INR 61.00). The dividend is payable to shareholders of record as of October 17, 2014. Further, the company's Board of Directors approved and recommended a 1:1 bonus issue of equity shares and 1:1 stock dividend of ADS. The record date remains to be determined.
In its outlook for FY ending March 31, 2015, the company continues to expect revenues to grow in the range of 7%-9% in constant currency terms. Visit Investor-Edge and access the latest research on INFY at:
www.Investor-Edge.com/INFYEarningsCoverage
Stock Performance
On the day of earnings release, October 10, 2014, Infosys Ltd's stock recorded a new 52-week high of $63.56
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, before ending the session at $62.82, up 5.74%. A total of 5.81 million shares were traded, which was significantly above its three months average volume of 1.61 million shares. Over the previous three trading sessions and over the last one month, the company's shares have advanced 4.27% and 4.51%, respectively. Moreover, the stock has gained 10.99% from the beginning of 2014. Infosys Ltd's shares are trading above their 50-day and 200-day moving averages of $59.31 and $56.47, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 65.16.
Sneak Peek to Corporate Insider Trading
In the last one month, Infosys Ltd has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on INFY is available at:
www.Investor-Edge.com/INFYInsiderTrading
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