Infosys shares slid as much as 3.35 per cent on Tuesday after it announced that it will slash about 3,000 employees, primarily in India, over the next few months after the Royal Bank of Scotland shelved the IT deal with the company. At 9.33 am, Infosys shares were trading 2.05 per cent down at Rs 1,041.50. The scrip opened at Rs 1,042 and has touched a high and low of Rs 1,049.40 and Rs 1,027.60, respectively, in trade so far. Later, the scrip closed 1.16 per cent down at Rs 1050.95.
The Royal Bank of Scotland announced last week that it will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G). The IT major Infosys was a W&G program technology partner for consulting, application delivery and testing services.
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For the quarter ended June 30, 2016, Infosys reported a consolidated net profit of Rs 3,436 crore, up 13.47 per cent, against Rs 3028 crore in the corresponding quarter a year ago. Consolidated operating income of the company grew by 15.15 per cent year-on-year to Rs 5,200 crore. Revenue of Infosys jumped by 16.92 per cent year-on-year to Rs 16782 crore for the quarter under review against Rs 14354 crore in the same quarter last year.
On a standalone basis, net profit of Infosys jumped by 10 per cent to Rs 3180 crore against Rs 2891 crore durig the same period.
In the past one year, shares of Infosys slipped by 6.87 per cent to Rs 1063.30 on August 12. The scrip was trading at Rs 1141.75 on the same day a year ago.