Infosys ends over 1 pc ahead of June quarter earnings

Shares of Infosys gained over one per cent Friday on the bourses ahead of the release of the company's June quarterly results.

On the BSE, Infosys opened at Rs 723.30 and gained 0.87 per cent to close at Rs 727.10. Intra-day, it touched a high of Rs 730.85.

On the NSE, the stock opened at Rs 722.50 and rose 1.19 per cent to end at Rs 730.05. During the trading session, the scrip touched a high of Rs 730.60.

After market hours, the IT major reported a 5.2 per cent growth in consolidated net profit at Rs 3,802 crore for the quarter ended June 30, 2019.

It had posted a net profit of Rs 3,612 crore in the April-June 2018 quarter, Infosys said in a BSE filing.

The company has increased its revenue growth guidance for FY20 to 8.5-10 per cent in constant currency. In April quarter, Infosys had said it expects a revenue growth of 7.5-9.5 per cent in FY 2019-20.

"We had a strong start to FY'20 with constant currency growth accelerating to 12.4 per cent on year over year basis and digital revenue growth of 41.9 per cent," Infosys CEO and Managing Director Salil Parekh said on announcement of result.

Meanwhile, on July 9, the rival TCS reported a 10.8 per cent rise in June quarter net at Rs 8,131 crore.