Infosys Q1 net may fall 0.7% to Rs 2,377.5 cr: P Lilladher

Prabhudas Lilladher has come out with its first quarter (April-June) earnings estimates for technology sector. The brokerage house expects Infosys to report a 0.7 percent degrowth quarter-on-quarter (growth of 3.9 percent year-on-year) in net profit at Rs 2,377.5 crore.

Revenues are expected to increase by 4.7 percent Q-o-Q (13.8 percent Y-o-Y) to Rs 10,943.8 crore, according to Prabhudas Lilladher.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 2.7 percent Q-o-Q (down 3.4 percent Y-o-Y) to Rs 2845.4 crore.

Prabhudas Lilladher report on Infosys

We expect Infosys to report revenue growth of 4.7 percent in INR terms, with volume growth of 2.6 percent Q-o-Q for Q1FY14, along with realization erosion of 0.5 percent Q-o-Q. We expect cross-currency to have a negative impact of 0.9 percent Q-o-Q. We expect the margins to erode by 50bps for the quarter due to wage hike and project ramp-up, and pricing decline. We expect FY14 USD revenue guidance to be retained at 6-10 percent Y-o-Y. There is likelihood of some commentary on road-map for growth acceleration.

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