Rarely does Infosys earnings announcement get overshadowed. Nandan Nilekani has made his choice and will bid adieu to Infosys, a company he co-founded 28 years ago. He will head the Government’s ambitious unique ID project. Hopefully IT will lead to a revolution for the nation.
Infosys has reported a consolidated net profit of Rs15.27bn for the April-June quarter versus Rs16.13bn in the previous quarter, representing a sequential fall of about 5%. Revenue for Q1 FY10 has come in at Rs54.72bn as against Rs56.35bn in the fourth quarter of last fiscal year, reflectinga drop of 3% Quarter on Quarter. EPS for the quarter is Rs26.63. Operating Profit Margin (OPM) is down at 30.12% compared to 33.55% in the January-March quarter. These are Indian GAAP numbers.
