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Infosys Shares Jump 3% After Company Delivers Better Q3 Results

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Infosys shares at the early start of the trading day on Monday quoted higher by 2.63% at Rs. 759.20.

Infosys Shares Jump 3% After Company Delivers Better Q3 Results
 

The gains come after the IT company saw its constant currency guidance revised upwards as well as there was no concreteness found in the whistleblower 's complaint against the company's CFO and CEO Salil Parekh.

The company's net profit for the third quarter ended December stood at ₹4,457 crore, up nearly 11% QoQ. Despite seasonally weak quarter owing to holiday season, Infosys reported a 9.5% YoY (1 percent QoQ) constant currency revenue growth while operating margin indicated a steady increase in QoQ.

Digital revenue for the quarter (grew 40.8 percent YoY and 6.8 percent QoQ in constant currency) and large total contract value (TCV) wins ($1.8 billion) remained healthy.

Further the moderate rally in the stock has been aided by the strong set of deals the company has entered into. As per analysts the momentum in the stock is likely to continue in the fourth quarter of FY20.

Stock was last quoting at versus its previous close of 738.25 per share.

GoodReturns.in

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