Infosys shares surge nearly 15% post earnings

Shares of IT major Infosys today surged nearly 15 per cent after the company reported close to 5 per cent increase in consolidated net profit for the quarter ended June 30, 2015.
The blue-chip stock jumped 11.28 per cent to Rs 1,115 at the BSE.
On the NSE, it soared 14.75 per cent to Rs 1,149.
The stock was the top gainer among the blue-chips on both Sensex and Nifty during the morning trade.
"Infosys announced its Q1 FY16 results today, which came well ahead of expectations on the sales front," said Sarabjit Kour Nangra, VP Research - IT, Angel Broking.

Infosys reported close to 5 per cent increase in consolidated net profit to Rs 3,030 crore for the quarter ended June 30, 2015, compared to that in the same period of previous year.

The firm reported a net profit of Rs 2,886 crore in the year-ago period, it said in a BSE filing.
Consolidated revenue for the quarter was up 12.4 per cent to Rs 14,354 crore, from Rs 12,770 crore in April-June, 2014.
For whole 2015-16, the country's second-largest software services firm expects revenue to grow 7.2-9.2 per cent in USD terms, and 11.5-13.5 per cent in rupee terms.

Industry body Nasscom expects the Indian IT-BPM sector to grow 14-16 per cent in dollar terms for the fiscal.
In US dollar terms, its consolidated net profit declined 1.3 per cent to USD 476 million in the first quarter of 2015-16, while revenue rose 5.7 per cent to USD 2.25 billion.