Infosys has rallied nearly 15% to Rs 2,899, in opening deals on NSE, after the company has reported better-than-expected consolidated net profit at Rs 2,374 crore for the first quarter ended June 2013 (Q1). Analyst on an average had expected profit of Rs 2,296 crore from the IT major.
Infosys had posted profit of Rs 2,394 crore in March quarter and Rs 2,289 crore in June quarter last year.
Total revenues grew 7.8% quarter-on-quarter to Rs 11,267 crore in June quarter against Rs 10,454 crore in previous quarter, Infosys said in a statement.
“Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, the company has done well in Q1 and are cautiously optimistic about rest of the year,” said S. D. Shibulal, CEO and Managing Director.
Meanwhile, the company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
Infosys had posted profit of Rs 2,394 crore in March quarter and Rs 2,289 crore in June quarter last year.
Total revenues grew 7.8% quarter-on-quarter to Rs 11,267 crore in June quarter against Rs 10,454 crore in previous quarter, Infosys said in a statement.
“Despite facing an uncertain macro environment, changing regulatory regime and a volatile currency environment, the company has done well in Q1 and are cautiously optimistic about rest of the year,” said S. D. Shibulal, CEO and Managing Director.
Meanwhile, the company has retained its 6-10% US Dollar revenue growth guidance for FY2014.
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