Earnings per share for the quarter were unchanged from the prior year at US$0.18 per share, or US$0.36 per ADS.
On average, eight analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.26 per share for the quarter.
Revenues for the quarter stood at US$174.1 million, Rs.6,861.9 million, 12.9% up from US$154.3 million in the prior year.
Seven Wall Street analysts had a consensus revenue estimate of $ 170.59 million for the quarter.
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The company also announced that its Board has recommended an annual dividend of 150%, as well as the repricing of outstanding Employee Stock Options at current market price.
The Board has also approved a share buyback program in the open market purchases on the Indian Stock Exchanges, with prices up to Rs.325 a share, for a total purchase up to US$60 million.
Looking ahead to the first quarter of 2008, the company expects revenues to be between US$175 and US$176 million.
Net income, excluding the foreign exchange gain/loss, is estimated to range from US$ 15.5 million from US$16 million.
Analysts, on average, expect the company to earn $0.34 per share on revenues of $ 176.08 million for the quarter.
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