Infosys shares surge nearly 15% post earnings

Shares of IT major Infosys on Tuesday surged nearly 15 percent after the company reported close to 5 percent increase in consolidated net profit for the quarter ended June 30, 2015.

Infosys shares surge nearly 15% post earnings

Mumbai: Shares of IT major Infosys on Tuesday surged nearly 15 percent after the company reported close to 5 percent increase in consolidated net profit for the quarter ended June 30, 2015.

The blue-chip stock jumped 11.28 percent to Rs 1,115 at the BSE.

On the NSE, it soared 14.75 percent to Rs 1,149.

The stock was the top gainer among the blue-chips on both Sensex and Nifty during the morning trade.

"Infosys announced its Q1 FY16 results on Tuesday, which came well ahead of expectations on the sales front," said Sarabjit Kour Nangra, VP Research - IT, Angel Broking.

Infosys reported close to 5 percent increase in consolidated net profit to Rs 3,030 crore for the quarter ended June 30, 2015, compared to that in the same period of previous year.

The firm reported a net profit of Rs 2,886 crore in the year-ago period, it said in a BSE filing.

Consolidated revenue for the quarter was up 12.4 percent to Rs 14,354 crore, from Rs 12,770 crore in April-June, 2014.

For whole 2015-16, the country's second-largest software services firm expects revenue to grow 7.2-9.2 percent in USD terms, and 11.5-13.5 percent in rupee terms.

Industry body Nasscom expects the Indian IT-BPM sector to grow 14-16 percent in dollar terms for the fiscal.

In US dollar terms, its consolidated net profit declined 1.3 percent to USD 476 million in the first quarter of 2015-16, while revenue rose 5.7 percent to USD 2.25 billion.

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close