Infosys gains over 4% as Q1 net profit beats forecast

NEW DELHI: Infosys Ltd surged as much as 4.1 per cent in trade on Friday, after country's second largest software exporter, surprised the street with better-than-expected net profit while revenues were in line.

At 1: 41 pm, Infosys was at Rs 3347.70; up 1.66 per cent.

It hit a low of Rs 3376.15 and a high of Rs 3429.35 in trade today.

The company reported a net profit of Rs 2,886 crore for quarter ended June 2014, down 3.5 per cent, compared to Rs 2,992 crore in the previous quarter. ET expected Q1 PAT to be at Rs 2,653 crore.

The IT major sees FY15 $ revenue growth at 7-9 per cent.

Sales in remained stagnant at Rs 12,770 crore, down 0.8 per cent, as compared to Rs 12,875 crore, Q-o-Q.

Q1 sales in dollar terms increased to $2,133 million vs $2,092 million Q-o-Q.