Infosys shares pare early losses; end 1% up after Q2 results

Shares of IT major Infosys recovered from early losses and ended almost one per cent higher today after the company reported a better-than-expected 3.3 per cent rise in the second quarter net profit.
The stock had lost 1.24 per cent to Rs 915.25 in intra- day trade on BSE, but later recovered the lost ground. It finally ended at Rs 935.40, up 0.93 per cent.
At NSE, shares of the company went up by 0.94 per cent to end at Rs 935.30.
The company's market valuation also surged Rs 1,987.75 crore to Rs 2,14,860.75 crore.
In terms of equity volume, 4.16 lakh shares of the company were traded on BSE and over 69 lakh shares changed hands at NSE during the day.

"Infosys' results were steady with USD revenues in-line with our estimates and EBIT margin and PAT ahead of our estimates," Prabhudas Lilladher said in a report.

Infosys, India's second-biggest software services exporter, yesterday reported a better-than-expected 3.3 per cent rise in the second quarter net profit to Rs 3,726 crore but slashed annual revenue forecast.
It cut revenue growth forecast to 5.5-6.5 per cent for the year to March 31, 2018, from 6.5-8.5 per cent previously projected.
Revenue from operations rose 1.5 per cent to Rs 17,567 crore during the second quarter ended September 30, 2017-18.
In dollar terms, net profit stood at USD 578 million for the September quarter, 7.3 per cent higher a year ago.

The revenue at USD 2.7 billion came in 5.4 per cent higher year-on-year. The company has declared an interim dividend of Rs 13 per share.