Infosys shares jump over 6% on better-than-expected Q1 net profit growth, higher revenue guidance for FY20

Shares of Infosys jumped over 6 percent on Monday after the IT behemoth posted a better-than-expected rise in its June quarter net profit

Press Trust of India July 15, 2019 12:32:32 IST
Infosys shares jump over 6% on better-than-expected Q1 net profit growth, higher revenue guidance for FY20
  • Infosys on Friday posted better-than-expected 5.3 percent rise in its June quarter net profit as it bagged more orders, and raised revenue growth forecast for the current fiscal to 8.5-10 percent range

  • Infosys shares rose by 6.15 percent to Rs 771.85 on the BSE

  • It was the top gainer among the frontline companies on both the key indices during early trade

New Delhi: Shares of Infosys jumped over 6 percent on Monday after the IT behemoth posted a better-than-expected rise in its June quarter net profit.

The scrip rose by 6.15 percent to Rs 771.85 on the BSE.

On the NSE, the stock gained 6.17 percent to Rs 771.65.

Infosys shares jump over 6 on betterthanexpected Q1 net profit growth higher revenue guidance for FY20

Representational image. Reuters.

It was the top gainer among the frontline companies on both the key indices during early trade.

Infosys on Friday posted better-than-expected 5.3 percent rise in its June quarter net profit as it bagged more orders, and raised revenue growth forecast for the current fiscal to 8.5-10 percent range.

The IT services firm posted a net profit of Rs 3,802 crore in April-June as compared to Rs 3,612 crore in the same period of the previous fiscal, the company said.

Revenue from operations rose 14 percent to Rs 21,803 crore.

The Bengaluru-based company secured $2.7 billion - its highest ever in a quarter - in large deals, mostly in dominant North American and European markets.

The company has raised its revenue growth guidance for the fiscal to 31 March, 2020, to be between 8.5 percent and 10 percent, from the 7.5 percent to 9.5 percent range it had forecast earlier.

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