Infosys Q1 consolidated net profit stood at Rs 1,720 crore, down 5.4% as compared to Rs 1,818 crore in previous quarter. The company’s revenues rose 3.2% in the quarter to Rs 7,485 crore. On a full year basis, net profit rose 15.72% from Rs 1,488 crore and revenues rose 21% from Rs 6,198 crore in the year-ago period.
The result was inline with consensus expectation but was dissapointed with the guidance given for Q2. The stock fell more than 4% in today's trade on heavy volumes.
For FY 2012 Infosys expects to clock an EPS of Rs. 130. At the CMP of Rs. 2791 the stock is currently trading at a PE multiple of 21.5 times based on FY 2012 earnings.
InvestorZclub believes that the stock might drift towards 2600 levels. Long term investors with at least 1 year horizon can enter the stock at that level for a 20% appreciation.
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