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Infosys gains after increasing revenue growth guidance for FY 2018

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advanced 1.37% to Rs 989.70 at 9:45 on after the company increased its growth guidance in both dollar and rupee terms for FY 2018 at the time of announcing Q1 June 2017

The are as per International Financial Reporting Standards (IFRS). The result was announced before market hours today, 14 July 2017.

Meanwhile, the S&P Sensex was down 14.63 points or 0.05% at 32,022.75.

On the BSE, 1.92 lakh shares were traded on the counter so far as against the average daily volumes of 2.69 lakh shares in the past one quarter. The stock had hit a high of Rs 1,006.65 and a low of Rs 983.05 so far during the day. The stock had hit a 52-week high of Rs 1,195.05 on 14 July 2016 and a 52-week low of Rs 900.30 on 9 November 2016.

The stock had underperformed the market over the past one month till 13 July 2017, gaining 1.89% compared with the Sensex's 3% rise. The stock had also underperformed the market over the past one quarter, advancing 4.82% as against the Sensex's 8.74% rise. The scrip had also underperformed the market over the past one year, sliding 18.17% as against the Sensex's 15.18% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys' consolidated net profit fell 3.3% to Rs 3483 crore on 0.2% decline in to Rs 17078 crore in Q1 June 2017 over Q4 March 2017.

The company expects its consolidated to grow 7.1%-9.1% in Dollar terms for the financial year ending March 2018 (FY 2018), which was higher than the growth guidance of 6.1%-8.1% issued by the company at the time of announcing Q4 March 2017 earnings.

The company expects its consolidated to grow 3%-5% in Rupee terms for FY 2018, based on the exchange rates as of 30 June 2017. This was higher than the growth guidance of 2.5%-4.5% issued by the company at the time of announcing Q4 March 2017 earnings.

Vishal Sikka, CEO of said that the company's persistent focus on execution in Q1 was reflected in broad-based performance on multiple fronts - growth, resilient margins despite multiple headwinds, healthy cash generation and overall business

The company's COO U B Pravin Rao commented that the company had broad-based growth across geographical and industry segments. The company's initiatives on operational discipline led to record levels of utilization and better realization during the quarter, he added.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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