Infosys is trading 3% higher at Rs 3,395 on the NSE (National Stock Exchange) after the company reported a better-than-expected consolidated net profit at Rs 2,886 crore for the first quarter ended June 30, 2014 (Q1).
Analysts, on an average, had expected profit of Rs 2,698 crore for the quarter. The company had reported a profit of Rs 2,992 crore in the March 2014 quarter.
Total consolidated revenues declined marginally by 0.8% at Rs 12,770 crore in June quarter against Rs 12,875 crore in March quarter, Infosys said in a statement.
Meanwhile, the company also retained its financial year 2014-15 (FY15) revenue growth guidance at 7-9% in dollar terms.
The stock opened at Rs 3,401and touched a high of Rs 3,432, its highest level since March 14, 2014 on the NSE. A combined around 297,000 shares changed hands on the counter in early morning deals on the NSE and BSE.
Analysts, on an average, had expected profit of Rs 2,698 crore for the quarter. The company had reported a profit of Rs 2,992 crore in the March 2014 quarter.
Total consolidated revenues declined marginally by 0.8% at Rs 12,770 crore in June quarter against Rs 12,875 crore in March quarter, Infosys said in a statement.
Meanwhile, the company also retained its financial year 2014-15 (FY15) revenue growth guidance at 7-9% in dollar terms.
The stock opened at Rs 3,401and touched a high of Rs 3,432, its highest level since March 14, 2014 on the NSE. A combined around 297,000 shares changed hands on the counter in early morning deals on the NSE and BSE.
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