May 10, 2011
Infinite Computer Solutions reported a 37% year-on-year growth in fourth quarter (January-March) net profit at Rs 30 crore, but forecast a slower 14-18% profit growth for 2011-12.
The company's fourth quarter revenue was up 33% from a year ago to Rs 248 crore.
For the full year (2011-12), Infinite Computer's consolidated net profit was up 40% in dollar terms to Rs 107.17 crore, while revenue rose 38% to Rs 883.28 crore.
The company now expects net profit of Rs 121-125 crore for the current financial year, while revenue is likely to grow 27-29% in dollar terms to Rs 1,100-1,125 crore.
India's second largest software services provider Infosys Technologies last month guided for 18-20% growth in revenue and 8-10% growth in earnings per American Depository Share for 2011-12.
Infinite Computer's EBITDA (earnings before interest, taxes, depreciation and amortization) margin in the fourth quarter was at 17.2% up 50 bps from the earlier quarter.
It added 14 clients in the last fiscal year, which includes 4 clients it added in the fourth quarter. Infinite Computer said it had seen significant growth from clients acquired last year.
As of March 31, the company had 4,806 employees, while attrition rate was at 17%.
Infinite Computer shares fell post the results announcement and were down 1.2% to Rs 163.10 in morning trade on NSE.