Infosys shares gain nearly 4% on better-than-expected 10.3% net profit growth in September quarter

The India's second-largest software services exporter Infosys on Tuesday posted a better-than-expected 10.3 percent net profit growth in the second quarter after margins were boosted by large deal wins and reiterated its revenue forecast for full year.

Press Trust of India October 17, 2018 12:15:51 IST
Infosys shares gain nearly 4% on better-than-expected 10.3% net profit growth in September quarter

New Delhi: Shares of Infosys rose by nearly 4 percent on Wednesday after the company posted a better-than-expected 10.3 percent net profit growth in the second quarter.

The scrip after a positive opening further gained 3.53 percent to Rs 721 on BSE.

At NSE, shares of the company went up by 3.81 percent to Rs 721.80.

Infosys shares gain nearly 4 on betterthanexpected 103 net profit growth in September quarter

Representative image Reuters

In terms of equity volume, 5.45 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade.

Sanjeev Hota, AVP Research at Sharekhan by BNP Paribas, said Infosys had delivered "better than expected numbers on topline and bottomline front for second quarter, though margins performance missed the mark".

The India's second-largest software services exporter Infosys on Tuesday posted a better-than-expected 10.3 percent net profit growth in the second quarter after margins were boosted by large deal wins and reiterated its revenue forecast for full year.

Net profit in July-September rose to Rs 4,110 crore, or Rs 9.45 per share, from Rs 3,726 crore, or Rs 8.15 a share, a year ago, the company said in a statement. Revenue from operations grew 17.3 percent to Rs 20,609 crore.

The company has declared an interim dividend of Rs 7 per share.

The results were announced after market hours on Tuesday.

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