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Infosys Q4 PAT at Rs 3,097 crore; announces 1:1 bonus issue
Posted by : jyoti_sahoo on Apr 24,2015 02:41 PM
Infosys, India's second-largest IT services exporter, on Friday reported Profit After Tax (PAT) of Rs 3,097 crore for the fourth quarter of FY15, versus Rs 3,250 QoQ.
The company has allotted 57,42,36,166 fully paid up equity shares of face value Rs 5/- each during the quarter ended December 31, 2014 pursuant to a bonus issue approved by the shareholders through postal ballot by capitalization of share premium.
The record date fixed by the Board of Directors was December 3, 2014. Bonus share of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, has been allotted.
Infosys expects the FY16 revenue to grow at 10-12% in constant currency terms. The FY16 revenue growth in dollar terms is seen at 6.2%-8.2%.
Reacting to the results, shares in Infosys were trading at Rs 2101.20, down 1.01% on the Bombay Stock Exchange at 2:22 PM. The stock cracked 3% immediately after the results were announced, but recovered after that.
Despite muted performance, analysts at top brokerage firms remain confident on the prospects of the IT major in long term, and advise investors to accumulate the stock on declines.
Infosys made an all-time high of Rs 2336 in February 2015, and from there it has entered into a correction mode. The multi-month correction is unfolding in a channelised manner.
The daily and weekly momentum indicators are in a bearish mode, and from short-term perspective there is some more downside potential in the counter, say experts.
Infosys is currently available at valuations that look attractive (i.e. not yet capturing the true intrinsic worth of the company), coupled with the potential gains from a growing US economy, the company's strong quality and top-notch management should ensure that it continues to perform well.
Analysts believe that despite the cross currency fluctuations, the IT sector shows growth potential due to investments in new technologies related social networking, media, analytics, and cloud computing (SMAC).
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JP on 4/25/2015 7:26:00 PM
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