Infosys Technologies Ltd has announced the following audited results for the quarter and year ended March 31, 2006:
- Income was Rs 2,624 crore (Rs 26.24 billion) for the fourth quarter ended March 31, 2006; YoY growth was 32.1 per cent
- Net profit after tax before exceptional item was Rs 673 crore (Rs 6.73 billion) for the fourth quarter ended March 31, 2006; YoY growth was 31.2 per cent
- Earnings per share before exceptional item increased to Rs 24.45 from Rs 19.01 for the corresponding quarter in the previous year; YoY growth was 28.6 per cent
Consolidated results for the year ended March 31, 2006
- Income was Rs 9,521 crore (Rs 95.21 billion) for the year ended March 31, 2006; YoY growth was 33.5 per cent
- Net profit after tax before exceptional item was Rs 2,458 crore (Rs 24.58 billion) for the year ended March 31, 2006; YoY growth was 33.2 per cent
- Earnings per share before exceptional item increased to Rs 90.06 from Rs 68.79 in the previous year; YoY growth was 30.9 per cent
Others
- Thirty eight new clients were added during the quarter by Infosys and subsidiaries. Nine clients contributed more than $ 50 million each in annual revenues
- Gross addition of 5,170 employees (net 3,293) for the quarter and 22,868 employees (net 15,965) for the year by Infosys and subsidiaries
- Fifty two thousand seven hundred and fifteen employees as on March 31, 2006 for Infosys and subsidiaries
- The board of directors recommended a 1:1 bonus issue (stock dividend) for all shareholders including the ADR holders
- The board of directors recommended a Silver Jubilee special dividend of Rs 30.00 per share (600 per cent on par value of Rs 5 per share)
- The board also recommended a final dividend of Rs 8.50 per share (170 per cent on par value of Rs 5 per share) for fiscal 2006
"This has been a happy, intense, rewarding and exhilarating journey of 25 years," said N R Narayana Murthy, chairman and chief mentor. "Infosys has created a team of high performers who have consistently demonstrated their ability to build the company of the future."
"It took us 23 years to reach the first billion dollars in revenues while we reached the next billion dollars in 23 months," said Nandan M Nilekani, CEO, president and managing director. "The global IT services industry is showing signs of stronger growth and Infosys is well poised to take advantage."
Business outlook
The company's outlook (consolidated) for the quarter ending June 30, 2006 and the fiscal year ending March 31, 2007, under Indian GAAP and US GAAP, is as follows:
Outlook under Indian GAAP - consolidated*
Quarter ending June 30, 2006)
- Income is expected to be in the range of Rs 2,793 crore (Rs 27.93 billion) and Rs 2,816 crore (Rs 28.16 billion); YoY growth of 34.8 per cent 35.9 per cent
- Earnings per share are expected to be between Rs 24.76 and Rs. 25.20; YoY growth of 26.1 per cent - 28.4 per cent
Fiscal year ending March 31, 2007*
- Income is expected to be in the range of Rs 12,254 crore (Rs 122.54 billion) and Rs 12,446 crore (Rs 124.46 billion); YoY growth of 28.7 per cent - 30.7 per cent
- Earnings per share are expected to be between Rs 113.85 and Rs 115.61; YoY growth of 26.4 per cent - 28.4 per cent
* conversion 1 US$ = Rs. 44.48
Outlook under US GAAP
Quarter ending June 30, 2006
- Consolidated revenues are expected to be in the range of $ 628 million and $ 633 million; YoY growth of 31.9 per cent - 33.0 per cent
- Consolidated earnings per American Depositary Share are expected to be between $ 0.56 and $ 0.57; YoY growth of 24.4 per cent - 26.7 per cent
Fiscal year ending March 31, 2007
- Consolidated revenues are expected to be in the range of $ 2.76 billion and $ 2.80 billion; YoY growth of 28.0 per cent - 30.0 per cent
- Consolidated earnings per American Depositary Share are expected to be between $ 2.57 and $ 2.61; YoY growth of 26.0 per cent - 27.9 per cent
Consolidated results for the quarter ended March 31, 2006 (US GAAP)
- Fourth quarter revenues at $ 593 million, up 30.0 per cent from the corresponding quarter last fiscal
- Earnings per American Depositary Share increased to $ 0.56 from $ 0.47 in the corresponding quarter last fiscal
- Stock dividend to shareholders (including ADS holders) in the ratio of two for one (i.e. one additional ADS for every ADS held) subject to approval of shareholders
- Silver Jubilee special dividend of Rs 30.00 per ADS (equivalent to $ 0.67 per ADS at the prevailing exchange rate of Rs. 44.48 per US$). Final dividend of Rs. 8.50 per ADS (equivalent to $ 0.19 per ADS at the prevailing exchange rate of Rs. 44.48 per US$). These dividends are payable at the prevailing exchange rate on the payment date and are subject to approval by the shareholders
- Consolidated revenues expected to be between $628 million and $633 million for the quarter ending June 30, 2006 (YoY growth of 31.9 per cent - 33.0 per cent) and between $2.76 billion and $2.80 billion for the fiscal year ending March 31, 2007 (YoY growth of 28.0 per cent - 30.0 per cent)
- Consolidated earnings per ADS expected to be between $0.56 and $0.57 for the quarter ending June 30, 2006; (YoY growth of 24.4 per cent - 26.7 per cent) and between $2.57 to $2.61 for the fiscal year ending March 31, 2007; (YoY growth of 26.0 per cent - 27.9 per cent)
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