Infosys shares gain nearly 1% ahead of June quarter earnings release; company to announce Q1 results today

Mumbai: Shares of Infosys gained nearly one percent in morning trade on Friday on the bourses ahead of the release of the June quarter results. On the BSE, Infosys opened at Rs 723.30, then gained further ground and touched a high of Rs 726.95, up 0.80 percent over its previous close. On the NSE, the stock opened at Rs 722.50, then touched a high of Rs 727.35, registering a rise of 0.81 percent over its previous close. [caption id=“attachment_4240995” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] “Infosys, a global leader in next-generation digital services and consulting, will announce results for the first quarter ended 30 June, 2019 on Friday, 12 July, 2019,” the company had said in a regulatory filing. According to an Emkay Research report, net profit is expected to decline by 11 percent QoQ due to lower other income and reduction in margins. “Street will look for signs of recovery in H2 and commentary on spending in key verticals such as BFSI as commentary from US-listed peers has been subdued,” it added. Meanwhile, on 9 July, the largest software exporter TCS reported a 10.8 percent rise in June quarter net at Rs 8,131 crore. TCS had reported a revenue growth of 11.4 percent to Rs 38,172 crore during the quarter.