Infosys shares gained over 5% in the morning trade after it posted a better-than-expected 1.98% qoq growth in consolidated net profit at Rs 3,465 crore for the quarter ended Dec 2015.
Infosys shares gained as much as 5.3 per cent on the BSE after the company posted a better-than-expected 1.98 per cent quarter on quarter (q-o-q) growth in consolidated net profit at Rs 3,465 crore for the third quarter ended December 31, 2015. Net profit of Infosys jumped 6.6 per cent on year-on-year basis.
India’s second largest IT services exporter also increased its revenue guidance for FY16 backed by strong volume growth of 3.1 per cent for the October-December quarter, perceived traditionally as a seasonally weak quarter. Infosys raised the revenue guidance for FY16 to 12.8-13.2 per cent from its earlier projection of 10-12 per cent in dollar terms on a constant currency basis.
At 10.33 am, shares of Infosys were trading 4.31 per cent up at Rs 1,128.95. The scrip opened at Rs 1068 and had touched a high and low of Rs 1139.80 and Rs 1054.95, respectively, in trade so far. Later, the shares closed 4.28 per cent up at Rs 1128.70.
The promoters holding as on September 2015 in the company stood at 13.08 per cent while institutions and non-institutions held 57.06 per cent and 29.86 per cent respectively
Consolidated revenue of the company jumped 15.26 per cent yoy and 1.70 per cent qoq to Rs 15,902 crore.
Nithin Kamath, founder and CEO, Zerodha, said, “Infosys results are very encouraging especially since the company is up beat on the dollar revenue guidance. We are optimistic that the earnings momentum in Infosys will continue.”
Brokerage firm Sharekhan was expecting net profit and sales of Rs 3,440.30 crore and 15,808 crore for the quarter ended December 2015.