News / Infinite Q2FY12 Revenue Grows 19% YoY
Nov 09, 2011

Infinite Computer Solutions (India) Limited (BSE: 533154, NSE: INFINITE), a global provider of Infrastructure Management Services (IMS) Mobility and Intellectual Property (IP) Leveraged Solutions and Application Management Services today announced its results for the second quarter of the Fiscal 2011-12, as approved by its Board of Directors.

Consolidated results for the quarter ended September 30, 2011

– Revenue - INR 257.1 crore; (USD 56.2 Million*) YoY growth of 19.1% in USD terms

– PAT - INR 30.7 crore; (USD 6.7 Million); YoY growth of 22.3% in USD terms

– EPS for the quarter- INR 7.21

*Average Forex Rate: INR 45.76 = 1 USD

Q2 FY12 Highlights

Revenue of INR 257.1 crore (USD 56.2 Million) for the quarter ended September 30, 2011

• Y-o-Y Growth in USD terms at 19.1% and in INR terms it stood at 17.2%;

• Q-o-Q revenues declined (sequential) by 4.2% in USD terms and 2.0% in INR terms

Operating profit was INR 43.4 crore (USD 9.5 Million) for the quarter ended September 30, 2011

· Y-o-Y growth in USD terms at 21.2% and in INR terms at 19.2%

· Q-o-Q operating profit declined by 5.1% in USD terms and 3.0% in INR terms

Net profit after tax was INR 30.7 crore (USD 6.7 Million) for the quarter ended September 30, 2011

• Y-o-Y Growth in USD terms was 22.3% and in INR terms it stood at 20.3%;

• Q-o-Q Growth stood at 0.3% in USD terms and 2.6% in INR terms

Earnings Per Share was INR 7.2 for the quarter ended September 30, 2011

Interim Dividend of INR 4 per share.

 

Others

• We have 53 active clients. Out of which on an LTM basis, we have 15 USD 1 mn+ clients, eight clients with USD 5 mn+, six clients with USD 10 mn+ revenue and three clients with USD 20mn+ revenue

 

• Tax rate decreased from 25% in Q1 FY12 to 24% in Q2 FY12

 

• Global Attrition rate stood at 19.2%

 

• DSO increased to 109 days

 

• Cash and cash equivalents increased to INR 130 crore from INR 114 crore in Q1 FY12

 

Commenting on the results, Upinder Zutshi, MD & CEO Infinite, said, “While the quarter was stable, we had a ramp down at one of our key clients. This has impacted our sequential growth and our yearly outlook. Traction across other clients continues and we are also working on closing some new clients win in the coming quarter.”

 

Outlook

Taking into account the ramp down in one of our key client, we are revising the guidance downwards as follows:

· Revenues for FY12 in USD terms will be $220 Million; in INR terms the same would be about 1,012 crore. This translates to a growth of 13.7% in USD terms and 14.6% in INR terms

· Profit after Tax for FY12 will be US$ 25 Million and in INR terms the same would be INR 115 crore.

 

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