Infosys disappoints

Quarterly profit rose just 1.1% quarter-on-quarter, even as the company won orders from customers including German automaker BMW. The firm's dollar revenue growth was also weak at 1.4%. The firm's consolidated revenuies stood at Rs 10,454 crore, up a mere 0.3% on q-o-q basis for the quarter under review. Earnings per share of the company was up 1% over the preceding quarter, at Rs 41.89. Infosys also gave a full year revenue guidance of 6-10% for FY14, compared with an industry guidance of 10-14%. It gave no EPS guidance. The company said that it has set aside $100 million for investments, and stated that the North American market grew 0.1%, while Europe grew 6.5% in constant currency. In comparison, the Indian market grew 10% sequentially. The company has proposed a final dividend of Rs 27 a share Other highlights: A press release issued by the company mentions the following: Infosys and its subsidiaries added 56 clients during the quarter Gross addition of 8,990 employees (net addition of 1,059) for the quarter by Infosys and its subsidiaries 1,56,688 employees as on March 31, 2013 for Infosys and its subsidiaries The company listed its American Depository Shares (ADS) on NYSE Euronext’s (NYX) London and Paris markets The company has decided to set aside up to $100 million to invest in products, platforms and solutions ideas in line with Infosys 3.0 strategy