India’s second largest software exporter Infosys Technologies Ltd. has declared its Q1 result for FY12, the net profit stood at Rs.1,720 crore i.e down 5.4% as compared to Rs.1,818 crore in the previous quarter. The total revenues for the quarter ended June 2011 was Rs.7,485 crore. Also other income increased to Rs.443 crore from Rs.415 crore, however it was a marginal increase.
EBIT margin for the quarter ended June 2011 was found to be at 26.1%. Also EBIT was at Rs.1952 crore versus Rs.2102 crore in previous quarter. Volume growth in the June quarter was 4%. North America contributes 64.2% of total revenues in Q1 as against 63.7% in previous quarter.
How to trade INFOSYSTCH stock: Looking at the Q1 FY12 result we see that there was some slow down in the operations and hence the stock is trading lower today by more than 5% at Rs.2770 level, but technically there is strong support for the stock at 2707 level so we will advice the long term investors to enter buy position in Infosys at that level we believe that there should be some bounce from those level targeting the 2820 level in short term and 3400 and 3750 in longer term view. Also taking a look at the technical indicators we see RSI and slow stochastic are signalling weakness in immediate term.