Infosys gains after raising revenue guidance for FY 2016

Infosys rose 4.03% to Rs 1,126 at 10:00 IST on BSE after the company in its outlook increased the consolidated revenue guidance for the year ending 31 March 2016.

Meanwhile, the S&P BSE Sensex was down 244.52 points or 0.98% at 24,609.59.

On BSE, so far 4.23 lakh shares were traded in the counter as against average daily volume of 1.45 lakh shares in the past one quarter. The stock hit a high of Rs 1,139.80 and a low of Rs 1,054.95 so far during the day. The stock had hit a record high of Rs 1,219 on 12 October 2015. The stock had hit a 52-week low of Rs 932.55 on 10 July 2015.

Thanks to weakness of the rupee against the dollar, Infosys has raised full year revenue growth guidance in rupee terms. Infosys now expects its revenue to grow 16.2%-16.6% in rupee terms for the year ending 31 March 2016 (FY 2016). At the time of announcing Q2 September 2015 results, Infosys had forecast 13.1%-15.1% growth in the company's revenue in rupee terms for FY 2016. The revised guidance is based on rupee-dollar exchange rate of 66.16.

Infosys increased revenue growth guidance for FY 2016 at 12.8%-13.2% in constant currency terms. At the time of announcing Q2 September 2015 results, Infosys had forecast 10%-12% growth in constant currency terms.

The company's consolidated net profit as per the IFRS rose 2% to Rs 3465 crore on 1.7% rise in revenue to Rs 15902 crore in Q3 December 2015 over Q2 September 2015. The result was as per the International Financial Reporting Standards (IFRS). The result was announced during market hours today, 14 January 2016.

Infosys is a global leader in consulting, technology and outsourcing solutions.

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