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Accenture fourth-quarter profit drops by 7 per cent

Accenture fourth-quarter profit drops by 7 per cent
Global technology and consultancy giant Accenture said its fourth-quarter profit fell seven per cent to USD 636 million on account of higher tax rates. It said, however, that the company expects earnings for FY13 [September-August] to be in the range of USD 4.22 to USD 4.30 per share amid gains in its outsourcing business.

For fiscal year 2013, ending August, Accenture expects net revenue growth of 5-8 per cent and earnings per share of USD 4.22-4.30, an increase of 10-12 per cent, Accenture said in a statement. Pursuant to the announcement, which was made after market hours, Accenture, gained as much as 4.6 per cent to USD 68.37 in extended trading.

However, the net income of the company in the fourth quarter declined by 7 per cent, due to the higher tax rate and stood to USD 636 million against USD 683 million for the same period of fiscal 2011. Accenture, said its net revenues for the fourth quarter stood at USD 6.84 billion compared with USD 6.69 billion a year ago, a rise of 2 per cent.
PTI

PTI

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