Infosys Q1 results beats estimates, shares up over 3 %

Posted By: PTI
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New Delhi, Jul 14: Beating the expectations of the analysts, shares of Infosys on Friday rose by over 3 per cent after the company posted 1.3 per cent growth in consolidated net profit for the June quarter.

Infosys CEO (Chief Operating Officer) Vishal Sikka

The stock gained 3.10 per cent to Rs 1,006.65 on BSE. At NSE, shares of the company went up by 3 per cent to Rs 1,006.85. Infosys, the second-largest IT exporter in the country, today reported 1.3 per cent growth in consolidated net profit at Rs 3,483 crore for the quarter ended June 30, 2017.

It had posted a net profit of Rs 3,436 crore in April- June of 2016-17, Infosys said in a BSE filing. Revenue of the Bengaluru-based firm grew 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period, it added.

Infosys maintained its revenue growth forecast for 2017- 18 in the range of 6.5-8.5 per cent in constant currency and 7.1-9.1 per cent in US dollar terms.

Infosys CEO (Chief Operating Officer) Vishal Sikka said: "Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts - revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results. I am encouraged by the uptick in revenue per employee for six quarters in a row, and the strong momentum in our new high growth services and software, as we accelerate our focus on innovation-led growth."

PTI

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