Infosys guidance for FY08: Revenue growth is seen at Rs 16,238-16,433 crore, up 16.9-18.3%. FY08 EPS (Excl Tax Write Back) is seen at Rs 77.31-78.11. FY08 Revenue Outlook is based on rupee rate of 40.58/$. FY08 Rupee Guidance has been revised downwards. The Q2 revenues are seen at Rs 3952-3993 crore.Q2 EPS is seen at Rs 18.88.

Today Infosys announced its results. The Q1FY08 (QoQ) Net Profit is down 5.68% to Rs 1079 crore from Rs 1144# crore. CNBC-TV18 Estimates saw the figure at Rs 974.48 crore.
# including tax write back

The Q1FY08 (QoQ) revenues are up 0.02% to Rs 3773 crore from Rs 3772 crore. CNBC-TV18 estimates saw the figure at Rs 3813 crore. Infosys had given Q1 revenue guidance of Rs 3,896-3,913 crore. It had given Q1 Net Profit guidance of Rs 1,005.37 crore.

In Q1, the company added 35 New Clients and added 3,730 employees. Infosys CEO Says demand for large end-to-end players like Infy is still strong. Q1 Other Income is at Rs 253 crore vs Rs 119 crore (QoQ). Q1 OPM was at 28.7% vs 31.7% (QoQ. CNBC-TV18 poll saw the OPMs at 28.3%. They plan to add 26,000 employees in FY08

The company said that the Q1 blended pricing is up 1% and the volumes were up 6.9% (QoQ). The company added that they had forex hedges of $ 925 million in Q1. US operations contributed 62.6% of revenues, Europe 26.8%.

Q1 Highlights
* Added 35 new clients vs 34 new clients in Q4
* Added 3730 employees vs 2809 employees in Q4
* Other income of Rs 253 cr vs other income of Rs 119 cr in Q4
* Infosys BPO Q1 Revenues at Rs 200 cr & net profit of Rs 36 cr
* Onsite price up 1.41%; offshore up by 1.05%
* Forex gains of $ 18 mln
* Onsite Revenues at 49.7% of total
* Onsite billing rates up 1.4%, Offshore up 1.05%
* Revenue from top clients grew by 1.2% (QoQ)
* Revenue from top 10 clients declined 3.26%
* Employee utilisation incl trainees at 70.5%
* Employee utilisation incl trainees up 260 bps to 70.5%
* June-end cash reserves at $ 1.6 bln
* Attrition rate at 13.7%

Vertical growth (QoQ)
* Banking : -1.66%
* Insurance: -5.38%
* Manufacturing: 5.45%
* Telecom: 0.48%
*Transportation: 27.81%

“The sharp appreciation of the rupee against all major currencies impacted our operating margins during the quarter,” said V. Balakrishnan, Chief Financial Officer. “However, our robust and flexible operating and financial model enabled us to maintain our net margins while absorbing the impact of appreciating currency, higher wages and visa costs. Liquidity has been further strengthened with cash and cash equivalents reaching US$ 1.6 billion.”