Infosys Q3

On Friday, the IT bellwether said that its audit committee found no evidence of financial impropriety or executive misconduct by the company

Earnings per share (EPS) of the company came in at Rs 10.51, an increase of 26.6% YoY and 11.2% QoQ.

Infosys was up 4% at Rs 727 on Tuesday, trading at its highest level since October 8, 2018, on BSE and less than 4% away from its all-time high price of Rs 755 touched on October 1, 2018.

Infosys has rallied almost 12% to Rs 2,600 after reporting a better-than-expected consolidated net profit of Rs 2,369 crore for the third quarter ended December 2012 (Q3) against analyst expectation of Rs 2,228 crore.

Firm upbeat about vertical's FY19 prospects as compared to TCS

Infosys Technologies met Street expectations by reporting 38.3 per cent year-on-year growth in third quarter profits to Rs 51.29 billion, aided by a one-time gain from a US tax reversal. Revenues of the Bengaluru-headquartered company at Rs 177.9 billion grew 6.5 per cent, on the back of improved staff utilisation and higher growth from digital deals, in a traditionally weak quarter ending December 31. On Wednesday, the firm reported a one-time gain of Rs 14.32 billion due to tax reversals after it signed an Advance Pricing Agreement (APA) with the US Internal Revenue Service (IRS), which reflected in the rise in profit. Revenue in dollar terms grew 0.8 per cent over the previous quarter, slower than larger peer Tata Consultancy Services in the same period, which grew 1.3 per cent.Co-founder Nandan Nilekani set the tone for Salil S Parekh, who took over as managing director and chief executive (second non-founder in the top post) on January 2, saying stability had returned to the ...

On sequential terms, revenue rose 1.3% to Rs 177.94 bn; keeps FY18 revenue growth forecast at 5.5-6.5%

After new CEO Salil Parekh took charge on Jan 2, the company's revenue guidance and software strategy under the new leadership will be keenly watched today