Infosys on Tuesday beat June quarter sales and profit
estimates, leading to a 9 per cent bump-up in its shares. India's second
biggest outsourcer reported 4.4 per cent rise in constant currency
revenue growth, beating estimates of 2.5-3 per cent growth.
In rupee terms, Infosys reported a net profit of Rs 3,030 crore on sales of Rs 14,354 crore. Analysts on average expected the company to report a net profit of Rs 3,019 crore on sales of Rs 14,066 crore.
Analysts said this was one of the strongest numbers Infosys had put in many quarters. Dhananjay Sinha of Emkay Global told NDTV that Infosys has put up its best show in six quarters.
"The topline growth seems to be good and has percolated to better profit growth as well... Results have been the strong in the last 6 quarters and will bring cheer for the markets," he added.
Gaurang Shah of Geojit BNP Paribas said Infosys has posted stellar numbers, which should lift market sentiments.
Infosys was the top gainer in the 50-share Nifty index. The outperformance in Infosys also lifted the broader markets because Infosys has the third largest weightage in the Nifty after HDFC and HDFC Bank.
As of 09.22 a.m., Infosys shares traded 7 per cent higher at Rs 1,070.
In rupee terms, Infosys reported a net profit of Rs 3,030 crore on sales of Rs 14,354 crore. Analysts on average expected the company to report a net profit of Rs 3,019 crore on sales of Rs 14,066 crore.
Analysts said this was one of the strongest numbers Infosys had put in many quarters. Dhananjay Sinha of Emkay Global told NDTV that Infosys has put up its best show in six quarters.
"The topline growth seems to be good and has percolated to better profit growth as well... Results have been the strong in the last 6 quarters and will bring cheer for the markets," he added.
Gaurang Shah of Geojit BNP Paribas said Infosys has posted stellar numbers, which should lift market sentiments.
Infosys was the top gainer in the 50-share Nifty index. The outperformance in Infosys also lifted the broader markets because Infosys has the third largest weightage in the Nifty after HDFC and HDFC Bank.
As of 09.22 a.m., Infosys shares traded 7 per cent higher at Rs 1,070.
No comments:
Post a Comment