Infosys surges after increasing FY 2016 revenue guidance

Infosys surged 10.01% to Rs 1,101.85 at 10:51 IST on BSE after the company raised its full year revenue growth guidance in dollar terms at the time of announcing its Q1 June 2015 results during market hours today, 21 July 2015.

Meanwhile, the BSE Sensex was up 93.67 points, or 0.33%, to 28,513.79

On BSE, so far 6.81 lakh shares were traded in the counter, compared with an average volume of 2.08 lakh shares in the past one quarter.

The stock hit a high of Rs 1,115 and low of Rs 1,022.20 so far during the day. The stock hit a record high of Rs 1,167.60 on 20 February 2015. The stock hit a 52-week low of Rs 798.21 on 21 July 2014.

The large-cap IT services provider has an equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys raised its full year revenue growth guidance in dollar terms at the time of announcing its Q1 June 2015 results during market hours today, 21 July 2015. Infosys now expects its revenue to grow 7.2%-9.2% in dollar terms for the year ending 31 March 2016 (FY 2016). At the time of announcing Q4 March 2015 results in April 2015, Infosys had forecast 6.2% to 8.2% growth in the company's revenue in dollar terms for FY 2016.

Thanks to weakness of the rupee against the dollar, Infosys has raised full year revenue growth in rupee terms. Infosys now expects its revenue to grow 11.5%-13.5% in rupee terms for the year ending 31 March 2016 (FY 2016). At the time of announcing Q4 March 2015 results in April 2015, Infosys had forecast 8.4%-10.4% growth in the company's revenue in rupee terms for FY 2016. The revised guidance is based on rupee dollar exchange rate of 63.65.

Infosys, however, kept revenue growth guidance for FY 2016 unchanged at 10%-12% in constant currency terms.

Infosys' consolidated net profit under International Financial Reporting Standards (IFRS) fell 2.1% to Rs 3030 crore on 7% rise in revenue to Rs 13411 crore in Q1 June 2015 over Q4 March 2015. The result was announced before market hours today, 21 July 2015.

Infosys said that the company made significant client additions in Q1 June 2015, including six large deals, each greater than $50 million in total contract value. The company continues to focus on strengthening client relationships and delivering new and innovative solutions, Infosys said.

Dr. Vishal Sikka, CEO and MD, Infosys said that the company's efforts in redesigning clients' experience and widespread adoption of innovation, both in grassroots and breakthroughs, are starting to bear fruit in large deal wins and in the growth of large clients.

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

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