Infosys shares gain nearly 4% post Q2 results

Shares of Infosys rose by nearly 4 per cent Wednesday after the company posted a better-than-expected 10.3 per cent net profit growth in the second quarter.

Infosys shares gain nearly 4% post Q2 results
The scrip after a positive opening further gained 3.53 per cent to Rs 721 on BSE. Image courtesy: Reuters
By PTI
Updated: Wed, Oct 17, 2018
01:54 pm
PTI
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New Delhi: Shares of Infosys rose by nearly 4 per cent Wednesday after the company posted a better-than-expected 10.3 per cent net profit growth in the second quarter. The scrip after a positive opening further gained 3.53 per cent to Rs 721 on BSE.

At NSE, shares of the company went up by 3.81 per cent to Rs 721.80. In terms of equity volume, 5.45 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the morning trade.

Sanjeev Hota, AVP Research at Sharekhan by BNP Paribas, said Infosys had delivered "better than expected numbers on topline and bottomline front for second quarter, though margins performance missed the mark".

The India's second-largest software services exporter Infosys Tuesday posted a better-than-expected 10.3 per cent net profit growth in the second quarter after margins were boosted by large deal wins and reiterated its revenue forecast for full year.

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Net profit in July-September rose to Rs 4,110 crore, or Rs 9.45 per share, from Rs 3,726 crore, or Rs 8.15 a share, a year ago, the company said in a statement. Revenue from operations grew 17.3 per cent to Rs 20,609 crore.

The company has declared an interim dividend of Rs 7 per share. The results were announced after market hours Tuesday.