Infosys shares climb over 3 per cent after March quarter earnings
The stock bounced back after a muted beginning and rallied 2.95 per cent to Rs 1,462.20 on the BSE. Shares of the firm climbed 3 per cent to Rs 1,462.70 at the NSE
New Delhi: Shares of Infosys climbed 3 per cent on Monday morning trade after the company’s March quarter net profit rose 3.3 per cent sequentially.
The stock bounced back after a muted beginning and rallied 2.95 per cent to Rs 1,462.20 on the BSE. Shares of the firm climbed 3 per cent to Rs 1,462.70 at the NSE. In the equity market, the BSE benchmark Sensex jumped 794.10 points to 79,347.30 during morning trade. The NSE Nifty surged 242.95 points to 24,094.60.
India’s second-largest IT company, Infosys, on Thursday reported an 11.7 per cent decline in consolidated net profit to Rs 7,033 crore for the March quarter mainly, on account of compensation to employees and acquisitions during the reported period. It had posted a profit (attributable to owners of the company) of Rs 7,969 crore in the year-ago period.
Infosys CEO and MD Salil Parekh said the company has guided for a revenue growth of 0-3 per cent in constant currency terms in the current fiscal year due to uncertainty in the environment.
Its CFO, Jayesh Sanghrajka, said the company is on track to hire 20,000 freshers this fiscal year, as announced earlier. Revenues for the quarter under review came in at Rs 40,925 crore, 7.9 per cent higher than Rs 37,923 crore in Q4 FY24. Sequentially, the company’s profits rose 3.3 per cent, but revenues declined 2 per cent.
For the full FY25, profits saw a marginal increase of 1.8 per cent to Rs 26,713 crore, according to a regulatory filing. Stock markets were closed on Friday for ‘Good Friday’.
