Infosys Q1 Net Profits At Rs 3030 Crores; Stock Surges 8%

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, July 21, 2015, 9:55 [IST]

IT major Infosys reported Q1 numbers that beat estimates with net profits at Rs 3030 crores for the quarter ending June 30, 2015.

Infosys share price and financials

Revenues came in at Rs 14,354 crores, which was higher than most estimates. The dollar revenue at the company grew by 4.5 percent to $2,256 during the quarter, which was largely considered as healthy by the markets.

The attrition rate at the company was placed at 14.2 per cent. The shares of the company surged almost 8 per cent, pushing benchmark indices higher in trade.

Markets were impressed with the revenue numbers that largely beat estimates. The Q1 2015 revenue growth at 7 per cent were the highest in seven quarters.

Liquid assets including cash and cash equivalents, available-for-sale financial assets and government bonds were Rs 30,235 crore as on June 30, 2015 as compared to Rs 32,585 crore as on March 31, 2015.

Infosys shares surged 10 per cent following its results.

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