Infosys retains revenue growth guidance after 10% profit jump
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Watch Infosys retains revenue growth guidance after 10% profit jump With HD Quality
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Infosys on Friday beat Street estimates to report a 23.49 per cent year-on-year rise in profit at Rs 4,457 crore compared with Rs 3,609 crore posted for the same quarter last year. Analysts in an ET NOW poll had estimated the number at Rs 4,204.50 crore.
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Watch Infosys Q3 profit jumps to Rs 4,457 cr; revenue guidance raised to 10-10.5% With HD Quality
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IT major Infosys on Friday reported a 5.3 per cent year-on-year rise in profit at Rs 3,802 crore for the June quarter. Sequentially, profit fell 6.8 per cent. Analysts in an ET NOW poll had projected a net of Rs 3,730 crore. The company has increased FY20 revenue growth guidance to 8.5-10 per cent in constant currency, while maintaining FY20 operating margin guidance in range of 21-23 per cent.
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Watch Infosys Q1 results: Profit rises 5% to Rs 3,802 crore; firm raises guidance for FY20 With HD Quality
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HCL Technologies on Thursday reported a 15.3 per cent year-on-year (YoY) rise in profit at Rs 2,568 crore. However, profit fell 1.7 per cent on a sequential basis. The IT firm had posted Rs 2,227 profit in the year-ago period. The IT major has guided FY20 constant currency revenue in 14-16 per cent range. This translates to 13.4-15.4 per cent in dollar revenue. The company pegs EBIT margin for FY20 at 18.5-19.5 per cent.
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Watch HCL Tech Q4 profit up 15% at Rs 2,568 cr; sees 14-16% FY20 revenue growth With HD Quality
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Infosys shares nosedived nearly 17 per cent on Tuesday in their worst single-day drop in over six years, wiping out investors' wealth worth nearly Rs. 54,000 crore. Watch the video to find out the details.
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Wipro on Friday revised upwards its IT services revenue outlook to 8-10 per cent sequential growth in the June 2021 quarter, following the completion of its USD 1.45 billion buyout of Capco.
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Wipro ups IT services revenue guidance to 8-10 per cent in June 2021 quarter
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Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations.
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