Q1: Infy beats estimates, net profit down by 5pc
Mumbai, Jul 10: The much awaited Q1 results of India's leading IT firm, Infosys was announced on Friday, Jul 10. The giant's Q1 net profit is down by 5 per cent, but failed to disappoint the markets as it was better than the expected numbers.
For the first quarter (Q1) that ended Jun 30 PAT (profit after tax) is at Rs 1,527 crores, a decline of 5 per cent from the net profit of 1,613 crores posted in the fourth quarter (Q4) of last fiscal.
The company's net sales was at Rs 5,472 crores as opposed to the previous numbers at Rs 5,636 crores (QoQ). This accounts for a dip of 3 per cent in the net sales.
The net profit of Infosys on a year on year basis (YoY) rose to Rs 1,527 crores in Apr-Jun, from Rs 1,302 crores.
With these positive results, Infosys has started off the day in the markets on a positive note and expected to push up the benchmark indices for the session.