ALSO READInfosys Q1 net up on client wins, FY18 dollar guidance raised Infosys Q1 profit up 1.4% to Rs 3,483 cr on better operation control LIVE: Nifty hits 9,900 in pre-open trade; Infosys up 2%, TCS top loser Infosys extends gain post clarification on alleged governance lapses Infosys extends fall on heavy volumes; stock hits one-month low
The consolidated net profit declined 3.3% sequentially to Rs 3,483 crore in Q1FY18, while revenues fell 0.2% at Rs 17,078 crore over the previous quarter.
Analysts on an average had expected profit of Rs 3,463 crore and revenues of Rs 17,037 crore for the quarter.
In US dollar terms, Q1 revenues grew sequentially by 3.2%, and 2.7% in constant currency terms.
Meanwhile, Infosys has raised FY18 dollar revenue guidance to 7.1-9.1% from 6.1-8.1% earlier.
“Revenues are expected to grow 6.5%-8.5% in constant currency; and 7.1%-9.1% in USD terms based on the exchange rates as of June 30, 2017,” Infosys said in a press release.
However, FY 18 revenue guidance retained at 6.5%-8.5% in constant currency. FY 18 operating margin guidance retained at 23%-25%,” it added.
The stock turned volatile and fell 2.4% from its opening level to Rs 983 in intra-day trade so far.
At 9:34 am, it was trading 2% higher at Rs 992 on BSE, as compared to 0.11% decline in the S&P BSE Sensex. A combined 3.11 million shares changed hands on the counter on BSE and NSE so far.
So far in 2017, Infosys underperformed the market by falling 3.4% against 20% rise in the benchmark index, till Thursday.