Results Q3 FY 2012: Infosys’ flat Q4 guidance, HDFC misses forecast !

Indian IT bellwether company Infosys Technologies left investors appalled with its weak guidance for the fourth quarter of FY 2011-12, despite buoyant 33% growth in consolidated net profit at Rs.2372 crore for the quarter ended December 2011.

The third quarter results were flared up by the positive impact of the depreciating rupee, beating its own Q3 revenue guidance. However, the software company sounded apprehensive when it came to the fourth quarter guidance, amid deteriorating business prospects in the euro zone.

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Infosys lowered its outlook for dollar revenues to 16.4% for the last quarter of the financial year, down from previous estimate of 17-19% approximately. The markets clearly took the negative meaning of the bleak outlook, to send its share price tumbling down by 8% by the end of the trade.

On the other hand, mortgage lender HDFC came with below-expected earnings of Rs.981 crore or the quarter ender December 2011, up 10.1% from Rs.891 crore reported during the same period last year.

On the total income front, HDFC Q3 figures arrived at Rs.4473 crore, as against Rs.3321 crore during the corresponding quarter last year. By the end of the calendar year, HDFC’s loan book stood at Rs.1.32 lakh crore, up 21% from last year levels.

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