Infosys ends day 11% up, pips ITC, ONGC to become 5th most valued firm on BSE

NEW DELHI: IT major Infosys on Tuesday pipped ITC and ONGC to become the fifth most valued firm in terms of market capitalisation on the Bombay Stock Exchange (BSE).

The scrip surged 11.05 per cent to settle the day at Rs 1,112.65. At Tuesday's closing price, the market capitalisation of the IT company stood at Rs 2,51,791 crore. This was higher than ONGC's (Rs 2,40,708.71 crore and ITC's Rs 2,51,446.85).

While ONGC declined 3.56 per cent to settle at Rs 281.35, ITC settled the day at Rs 313.70, down 2.29 per cent.

During the day, Infosys reported a 1.97 per cent quarter-on-quarter ( QoQ) fall in consolidated net profit at Rs 3,030 crore for the June quarter. The IT firm had reported a net profit of Rs 3,091 crore in the preceding quarter.

Consolidated revenue for the June quarter rose 7.03 per cent QoQ to Rs 14,354 crore, compared with Rs 13,411 crore in the March quarter.

In dollar terms, consolidated revenues grew 4.68 per cent QoQ at $2,260 million in the first quarter, compared with Rs $2,159 million in the preceding quarter.

Consolidated EBIT for the quarter stood almost flat at Rs 3,447 crore, compared with Rs 3,449 crore QoQ. Ebit margins fell 171basis points to 24 per cent,compared with 25.71 per cent in the March quarter. The IT major clocked a sequential volume growth at 5.4 per cent QoQ.

The IT major clocked a sequential volume growth at 5.4 per cent QoQ. The company has guided for a revenue growth of 10-12 per cent for the FY2015-16, in constant currency terms. In rupee terms, the company sees FY16 sales growth at 11.5-13.5 per cent.