Infosys shares up 1 pc post earnings

Shares of IT major Infosys today ended one per cent higher after the company reported a healthy 21.6 per cent growth in consolidated net profit for the first quarter.
After surging 4.14 per cent to Rs 3,429.35 in intra-day trade at the BSE, Infosys scrip finally ended at Rs 3,325.80, up 1 per cent.
At the NSE, the stock settled 0.98 per cent higher at Rs 3,325.
On the volume front, 1.97 lakh shares of the company changed hands at the BSE, while over 19 lakh shares were traded at the NSE during the day.
"Infosys surprised the street with better-than-expected net profit while revenue was in-line," said Paras Bothra, Research Head, Ashika Stock Brokers.

Infosys today reported a healthy 21.6 per cent growth in consolidated net profit for the first quarter, helped by increase in business from Europe and improved operational efficiency.

The company posted a net profit of Rs 2,886 crore for the quarter ended June 30 this fiscal against a net profit of Rs 2,374 crore in the year-ago period.
"The company posted better-than-expected numbers on the EBIT and net profit front, while sales were just below expectations," said Sarabjit Kour Nangra, VP Research - IT, Angel Broking.
Consolidated revenue for the reported quarter were up 13.3 per cent to Rs 12,770 crore from Rs 11,267 crore in the same quarter of 2013-14 fiscal.

For 2014-15, Infosys retained its conservative revenue guidance of 7-9 per cent in USD terms and 5.6-7.6 per cent in rupee terms, much below Nasscom's industry growth outlook at 13-15 per cent in dollar terms.
Commenting on the performance, Infosys' outgoing CEO and Managing Director S D Shibulal said: "We continue to enjoy the confidence of our clients by demonstrating superior execution capability and value realisation."
Meanwhile, buying was also seen in other IT stocks as TCS rose by 2.13 per cent, HCL Tech went up by 1.96 per cent and Wipro gained 1.42 per cent on the BSE.
Led by the gains, the BSE's IT index was up 1.42 per cent at 9,379.25.