Infotech Enterprises Q1 net profit seen at Rs 58.75 crore

MUMBAI: Infotech Enterprises will be announcing its earnings for the quarter ended June 30 tomorrow. The company’s net profit for the June 2012 quarter is likely to slip to Rs 58.75 crore as compared to a net profit of Rs 65.98 crore quarter on-quarter (q-o-q) due to lower margins & lower forex gains, according to an ET Now poll.

Revenues are likely to have grown to Rs 464.17 crore during the June 2012 quarter against Rs 417.3 crore q-o-q.

EBIDTA for Q1FY13 is expected to be at Rs 87.2 crore vs Rs 82.7 crore q-o-q.

Infotech Enterprises’ EBITDA margins are likely to decline 100 bps q-o-q due to wage hikes.

At 12:50 pm, the stock was at Rs 178.05, down 1.79 per cent, on the BSE. It touched a high of Rs 183.70 and a low of Rs 176.65 in trade today.