Infosys gains 3% as Q1 beats street expectations

The stock was up 3% to Rs 1,007 on BSE in early morning trade.

Infosys was up 3% to Rs 1,007 on BSE in early morning trade after the second largest domestic IT firm reported a better than expected financial results for the first quarter ended June 2017 (Q1FY18).

The consolidated net profit declined 3.3% sequentially to Rs 3,483 crore in Q1FY18, while revenues fell 0.2% at Rs 17,078 crore over the previous quarter.

Analysts on an average had expected profit of Rs 3,463 crore and revenues of Rs 17,037 crore for the quarter.

In US dollar terms, Q1 revenues grew sequentially by 3.2%, and 2.7% in constant currency terms.