Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter

Shares of Infosys on Monday jumped over 5 percent after the company reported a 23.7 percent rise in consolidated net profit for the December quarter

Press Trust of India January 13, 2020 14:25:45 IST
Infosys shares jump over 5% after company reports 24% rise in consolidated net profit for December quarter
  • Infosys on Friday, reported a 23.7 percent rise in consolidated net profit at Rs 4,466 crore for the December quarter, which the company executives called satisfactory

  • Its revenue grew 7.9 percent to Rs 23,092 crore in the quarter under review from Rs 21,400 crore in the corresponding period last fiscal

  • The company has raised its revenue outlook for FY2019-20 in constant currency to 10-10.5 percent, from its topline guidance of 9-10 percent given in October

New Delhi: Shares of Infosys on Monday jumped over 5 percent after the company reported a 23.7 percent rise in consolidated net profit for the December quarter.

Infosys on Friday said its audit committee has found no evidence of financial impropriety or executive misconduct, virtually giving a clean chit to CEO Salil Parekh and CFO Nilanjan Roy who were accused by anonymous whistleblowers of rigging the company's balance sheet.

The scrip climbed 5.32 percent to Rs 777.55 on the BSE.

On the NSE, it jumped 5.33 percent to Rs 777.50.

It was the top gainer on both Sensex and Nifty during morning trade.

The country's second-largest IT services major, after market hours on Friday, reported a 23.7 percent rise in consolidated net profit at Rs 4,466 crore for the December quarter, which the company executives called satisfactory.

The company had posted a net profit of Rs 3,610 crore in the year-ago period, Infosys said in a BSE filing.

Its revenue grew 7.9 percent to Rs 23,092 crore in the quarter under review from Rs 21,400 crore in the corresponding period last fiscal, it added.

The company has raised its revenue outlook for FY2019-20 in constant currency to 10-10.5 percent, from its topline guidance of 9-10 percent given in October.

In October, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.

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