Infosys shares jump after Q1 results

New Delhi, Jul 15 (PTI): Shares of Infosys jumped over six per cent Monday after the IT behemoth posted better-than-expected rise in its June quarter net profit. The scrip rose by 6.15 per cent to Rs 771.85 on the BSE. On the NSE, the stock gained 6.17 per cent to Rs 771.65. It was the top gainer among the frontline companies on both the key indices during early trade. Infosys Friday posted better than-expected 5.3 per cent rise in its June quarter net profit as it bagged more orders, and raised revenue growth forecast for the current fiscal to 8.5-10 per cent range.

The IT services firm posted a net profit of Rs 3,802 crore in April-June as compared to Rs 3,612 crore in the same period of the previous fiscal, the company said. Revenue from operations rose 14 per cent to Rs 21,803 crore. The Bengaluru-based company secured $2.7 billion – its highest ever in a quarter – in large deals, mostly in dominant North American and European markets. The company has raised its revenue growth guidance for the fiscal to 31 March 2020, to be between 8.5 per cent and 10 per cent, from the 7.5 per cent to 9.5 per cent range it had forecast earlier.