After a stupendous performance in the first three quarters with a net profit of Rs 92.16 crore, Infosys is likely to announce a net profit in the range of Rs 45-50 crore for the last quarter. Most fund managers see the company clocking a full-year net profit of Rs 140 crore, improving the earning per share on the enhanced post-bonus equity to Rs 43. On a year-on-year basis, the growth should be over 100 per cent as the profit for the first nine months of 1998-99 has already exceeded the full year figure of Rs 60.37 crore reported in 1997-98.

With the recent offering in the American market, Infosys' results wouldbe closely watched by the overseas investors as well and would certainly influence the stock prices a lot. ``The 100 per cent growth in earnings would cheer the scrip,'' said a BSE broker, adding that it would also justify the company's decision to capitalise the reserves through two share splits in the last two years. A day before the results, the Infosys counter witnessed selling pressure and the stock closed at Rs 2814.75 down from Rs 2825 on Thursday. Some attribute the fall in the scrip price to the general bearish sentiment in the market. Others attribute the listless performance to the feeling that Infosys' would perform as per market expectations.

However, the future stock movement would depend a lot on the company's ability to show earnings growth to match the equity expansion.