Infosys Shares Surge 2% After Strong Earnings

New Delhi, Jul 19 (PTI) Shares of Infosys ended nearly 2 per cent higher on Friday, a day after the IT major reported a 7 per cent rise in consolidated net profit in the April-June quarter and raised its growth outlook for the current financial year.

The stock ended at Rs 1,792.85, up 1.92 per cent on the BSE. During the day, it jumped 4.76 per cent to hit a 52-week high of Rs 1,843.

At the NSE, it went up by 1.78 per cent to settle at Rs 1,789.35 after climbing 4.88 per cent to Rs 1,844 -- the 52-week high -- during the day.

The company's market valuation rallied Rs 13,992.35 crore to Rs 7,44,396.43 crore.

The stock emerged as the biggest gainer among the BSE Sensex and NSE Nifty firms.

IT major Infosys on Thursday reported a 7 per cent rise in consolidated net profit at Rs 6,368 crore in the April-June quarter and raised its growth outlook for the current financial year, signalling an improvement in the IT segment.

With improvement in business, Infosys has shared plans to hire 15,000-20,000 freshers depending on the growth during the year.

The company has been reporting continuous decline in headcount since March 2023 quarter.

In the year-ago period, the company clocked a profit of Rs 5,945 crore, according to a BSE filing.

"Infosys' Q1 numbers on all parameters have beaten market expectations," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The consolidated revenue of Infosys increased by 3.6 per cent to Rs 39,315 crore during the reported quarter, from Rs 37,933 crore a year ago.

For the current fiscal year, the company raised its revenue growth guidance to 3-4 per cent in constant currency terms from 1-3 per cent predicted earlier.