Infosys buzzes ahead of June quarter result
The company will announce its results for the June quarter earnings post market hours on Friday, this has led to the shares spiking up by 2 per cent.
June is considered to be a strong quarter for IT firms owing to high billing days and allocation to future projects. Infosys had posted a net profit of Rs. 3,690 crore in the March quarter on revenue from operations of Rs 18,083 crore. The company is estimated to report revenues of around Rs. 19,000 crore for Q1FY19, up around 5 per cent QoQ or more than 10 per cent YoY.
Infosys is a IT major engaged in software development, digital transformation services, maintenance and independent validation services to companies involved in finance, insurance, manufacturing and other industries. The company operates in more than 45 countries.
On Friday, Infosys hit an intraday high of Rs. 1,322 per share and intraday low was Rs. 1,308 per share on the BSE. Its 52-week high is Rs. 1,358 and its 52-week low is Rs. 861.50 per share on the BSE.
At 11:22 hours, the share was trading at Rs. 1,322.05 per share, rising by 2.08 per cent on the BSE. The benchmark index BSE Sensex was quoting 36,601.87, up by 0.16 per cent and Nifty50 was up by 11,024.30, up by 0.011 per cent.