 "Infosys rallies on better-than-expected Q1 results")
Shares of Infosys rallied 9% to Rs 1,091 on the NSE in early morning trades after the company reported better-than-expected consolidated net profit of Rs 3,030 crore for the first quarter ended June 30, 2015 (Q1), against an average analyst estimates of Rs 2,993 crore.
The IT firm had posted a profit of Rs 3,097 crore in the March quarter and Rs 2,886 crore in the previous year's corresponding quarter.
Revenues during the reporting quarter grew 7% at Rs 14,354 crore on quarter-on-quarter (QoQ), highest in 15 years. Analysts estimated revenues of Rs 14,106 crore for the quarter.
Meanwhile, Infosys' revenues are expected to grow 10%-12% in constant currency and 11.5%-13.5% in rupee terms for the fiscal year ending March 31, 2016.
In dollar terms, revenues are expected to grow 7.2%-9.2%, it added.
"We made significant client additions this quarter, including six large deals, each greater than $ 50 million in total contract value. We continue to focus on strengthening client relationships and delivering new and innovative solutions," Infosys said in a statement.
At 09:20 AM, the stock was up 7% at Rs 1,071 on the NSE. A combined around two million shares changed hands on the counter on the NSE and BSE.
The IT firm had posted a profit of Rs 3,097 crore in the March quarter and Rs 2,886 crore in the previous year's corresponding quarter.
Revenues during the reporting quarter grew 7% at Rs 14,354 crore on quarter-on-quarter (QoQ), highest in 15 years. Analysts estimated revenues of Rs 14,106 crore for the quarter.
Meanwhile, Infosys' revenues are expected to grow 10%-12% in constant currency and 11.5%-13.5% in rupee terms for the fiscal year ending March 31, 2016.
In dollar terms, revenues are expected to grow 7.2%-9.2%, it added.
"We made significant client additions this quarter, including six large deals, each greater than $ 50 million in total contract value. We continue to focus on strengthening client relationships and delivering new and innovative solutions," Infosys said in a statement.
At 09:20 AM, the stock was up 7% at Rs 1,071 on the NSE. A combined around two million shares changed hands on the counter on the NSE and BSE.
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