Infosys stock gains after Q1FY19 numbers
Shares of Infosys reported in-line set of numbers for Q1FY19 on revenue and EBIT fronts.
Infosys Ltd is currently trading at Rs1,346.25 up by Rs37.15 or 2.84% from its previous closing of Rs1,309.10 on the BSE.
Constant currency (cc) revenue grew by 2.3% qoq and US revenue came in at USD2,831mn, up 0.9% sequentially. INR revenue grew by 5.8% qoq to Rs19,128cr, which is in-line with consensus estimate of Rs19,097cr.
The company’s PAT declined by 2.1% qoq to Rs3,612cr below consensus estimate of Rs3,727cr. There were exceptional items in Q4FY18 and Q1FY19 pertaining to reduction in the fair value of Disposal Group held for sale of Rs118cr and Rs270cr respectively. Adjusting for the same, the PAT grew by 0.9% qoq to Rs3,809cr, which is higher than the street estimates.
The scrip opened at Rs1,325 and has touched a high and low of Rs1,348.25 and Rs1,288.35 respectively. So far 47,61,005 (NSE+BSE) shares were traded on the counter.
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