India’s leading IT giant, Infosys on Friday announced a drop of 5% in its net profit for the first quarter ending June 30. The results are however better than what the market or analysts expected. Infosys’ PAT (profit after tax) for the April-June quarter stands at Rs 1,527 crores, a decline of 5% from the net profit of 1,613 crores posted in the fourth quarter of last fiscal. The company’s net sales were down 3% at Rs 5,472 crores versus Rs 5,636 crores (QoQ). However, the Q1 results met the rupee guidance. On year-on-year basis, the Nasdaq-listed firm’s net profit rose to Rs 1,527 crores in April-June, from Rs 1,302 crores a year ago. Infosys’ better-than-expected results are likely to push the benchmark Sensex up today.Infosys net profit drop by 5%
India’s leading IT giant, Infosys on Friday announced a drop of 5% in its net profit for the first quarter ending June 30. The results are however better than what the market or analysts expected. Infosys’ PAT (profit after tax) for the April-June quarter stands at Rs 1,527 crores, a decline of 5% from the net profit of 1,613 crores posted in the fourth quarter of last fiscal. The company’s net sales were down 3% at Rs 5,472 crores versus Rs 5,636 crores (QoQ). However, the Q1 results met the rupee guidance. On year-on-year basis, the Nasdaq-listed firm’s net profit rose to Rs 1,527 crores in April-June, from Rs 1,302 crores a year ago. Infosys’ better-than-expected results are likely to push the benchmark Sensex up today.
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