Stocks

Infosys shares fall over 4% after Q2 earnings

PTI New Delhi | Updated on October 14, 2019 Published on October 14, 2019

Shares of Infosys, on Monday, fell over 4 per cent after the company reported a decline in its consolidated net profit for the July-September quarter.

The scrip dropped 4.25 per cent to Rs 781 on the BSE. On the NSE, it fell 4.27 per cent to Rs 780.

The country’s second-largest IT services company on Friday said its consolidated net profit declined by 2.2 per cent to Rs 4,019 crore for the July-September 2019 quarter. This is against a net profit of Rs 4,110 crore in the same period last fiscal, Infosys said in a regulatory filing.

Read more: Infosys net profit down 1.8 per cent to Rs 4,037 crore

The company’s revenue rose by 9.8 per cent to Rs 22,629 crore in the quarter under review from Rs 20,609 crore in the year-ago period. In constant currency terms, this translates into an 11.4 per cent increase.

Also read: Infosys second-quarter revenues up 3.8% to ₹22,629 cr

Infosys also raised the lower-end of its FY2019-20 revenue guidance and the revised forecast now stands at 9-10 per cent growth in constant currency terms.

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Published on October 14, 2019
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