Infosys Technologies announced 2007-2008 1st Quarter results

Infosys Technologies has announced its first quarter results. >Consolidated net profit of Rs 1079 crore (including tax write back) in the first quarter of FY08 as against Rs 1,144 crore in the previous quarter, down 5.68%, this is abve everyones expectation.>Consolidated net profit (excluding tax write back) was up by 5.89% to Rs 1079 crore from Rs 1019 crore (Rs 10.19 billion). >Consolidated net sales has gone slightly up at Rs 3,773 crore (Rs 37.73 billion) from Rs 3,772 crore (Rs 37.72 billion).When compared to its guidance its below thr guidance of (Rs 3,896-3,913 crore and the net profit at Rs 1,005.37 crore). Other IncomeOther income for the first quarter stood at Rs 253 crore (Rs 2.53 billion) versus Rs 119 crore (Rs 1.19 billion) in the previous quarter.Clients AddedAdded 35 new clients in the first quarter and 3,730 employees. The attrition rate for the quarter was at 13.7%.Some Q1 HighlightsBPO revenues at Rs 200 crore, PAT at Rs 36 crore Forex gains of USD 18 million Onsite revenues at 49.7% of total (This might be the one hit by ruppee rate)Onsite billing rates up 1.4%, Offshore up 1.05% Revenues from top clients grew by 1.2% (QoQ) Revenues from top 10 clients declined 3.26% Employee utilisation including trainees at 70.5% Employee utilisation including trainees up 260 bps to 70.5%