Infosys shares up over 4% post earnings

Shares of IT major Infosys today gained over 4 per cent in morning trade after the company reported a healthy 21.6 per cent increase in consolidated net profit for the quarter ended June 30.
After a positive opening, shares of the company further surged 4.14 per cent to Rs 3,429.35 on the BSE.
At the NSE, the stock climbed 4.23 per cent to Rs 3,432.
However, profit-booking pulled down the stock, but Infosys was still trading in green, up 0.96 per cent at Rs 3327 at 1200 hrs.
"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.

Infosys today reported a healthy 21.6 per cent increase in consolidated net profit to Rs 2,886 crore for the quarter ended June 30 on growth in business from Europe and improved operational efficiency.

The Bangalore-based firm had reported a net profit of Rs 2,374 crore in the year-ago period, it said in a BSE filing.
The consolidated revenue for the reported quarter was up 13.3 per cent to Rs 12,770 crore from Rs 11,267 crore in the year-ago period.
For FY'15, the country's second-largest software services firm expects revenues to grow 7-9 per cent in USD terms and 5.6-7.6 per cent in rupee terms.

This is much below Nasscom's industry growth outlook at 13-15 per cent in dollar terms for the fiscal.
Meanwhile, buying was also seen in other IT counters, with TCS trading 2.05 per cent higher, Wipro (1.32 per cent) and HCL Tech (1.28 per cent).
Led by gains in these stocks, the BSE IT index was trading 1.32 per cent higher at 9,369.88.