STOCK MARKET BSE NSE

Infosys shares jump over 4% after Q2 earnings

The firm raised its forecast for annual revenue growth to 16.5 per cent to 17.5 per cent in fiscal 2022, from 14-16 per cent growth predicted in July.

Published: 14th October 2021 12:15 PM  |   Last Updated: 14th October 2021 12:15 PM   |  A+A-

Infosys

Infosys logo (Photo | EPS)

By PTI

NEW DELHI: Shares of Infosys on Thursday jumped over 4 per cent after the company reported a better-than-expected 12 per cent rise in its second-quarter net profit.

The stock gained 4.40 per cent to Rs 1,784.05 on the BSE. At the NSE, it jumped 4.35 per cent to Rs 1,783.60.

"Reported strong financial performance with both revenue and EBIT margin above estimates. The deal booking remains strong and would support growth momentum," according to a report by YES Securities on Q2 FY22 result update on Infosys.

Infosys Ltd, India's second-largest IT services company, on Wednesday reported a better-than-expected 12 per cent rise in its second-quarter net profit on more contracts from global businesses, a reason that also led to raising its annual revenue outlook.

Net profit in July-September at Rs 5,421 crore, or Rs 12.88 a share, was 11.9 per cent higher than Rs 4,845 crore (or Rs 11.42 a share) net profit in the same period a year back.

The net profit, which is 4.4 per cent higher than the preceding June quarter, came on the back of broad-based growth across verticals and geographies, strong revenue contribution from the Daimler deal, and higher adoption of digital transformation by clients.

The firm raised its forecast for annual revenue growth to 16.5 per cent to 17.5 per cent in fiscal 2022, from 14-16 per cent growth predicted in July.

This is on the back of expectations of winning more contracts from global businesses, expanding their digital offerings during the COVID-19 pandemic.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp