Markets cheer Infosys guidance; stocks rallies 5%

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Markets cheer Infosys guidance; stocks rallies 5%
More then the results of Infosys, which were largely in line with expectations, the street cheered its dollar revenue guidance and growth prospects going forward.

The Infosys stock was trading higher by 5 per cent higher in trade at Rs 3290.

Infosys reported numbers and guidance that were in line estimates, with net profits for Q2 FY 2014 coming in at Rs 2410 crores, including exceptional items.

The Q2 revenues for the period ending Sept 20, 2013 have come in at Rs 12,965 crores, as against Rs 11,267 crores reported in the corresponding period of last year.

Revenues in dollar terms were placed $2,066 million for the quarter ended September 30, 2013, a QoQ growth of 3.8%.

"During the quarter we witnessed broad-based volume growth, robust client additions, five large deal wins and increased sales momentum of our big data and cloud offerings. This growth is a result of our focus on execution, which helps our clients achieve their objectives." said S. D. Shibulal, CEO and Managing Director. "We will continue with planned investments and initiatives to explore new avenues of growth. We remain watchful of the sustainability of improving global economic fundamentals", he added.

The company has upped its dollar revenue guidance by 9-10 per cent for the full year, as against a dollar revenue guidance of 6-10% given in the corresponding quarter.

Read more about: sensex, infosys, ceo, shibulal
Story first published: Friday, October 11, 2013, 11:49 [IST]
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