Shares of Infosys Technologies today rose to an intra-day high of Rs 3,650 on higher revenue forecast.
The software bellwether closed 4.60 per cent higher at Rs 3,634.80 on the BSE after the company raised its full year revenue forecast. The stock witnessed a volume of 3 lakh shares on the BSE and 6.74 lakh on the NSE.
The software exporter said it expected income from software services and products at Rs 34.33-34.67 billion ($710.3-$717.4 million) for the current year to March, up from its earlier forecast of Rs 31.08-31.95 billion. In the December quarter, the Bangalore-based company said it expected to log earnings of Rs 37-38 per share, indicating a quarter-on-quarter growth of 12 per cent.
Infosys earlier said before trading began that profit rose to Rs 226 crore ($46.76 million) or Rs 33.90 per diluted share in the September quarter, matching market expectations.
This compares with Rs 2.02 billion or Rs 30.39 per share a year earlier. Total income rose 35.2 per cent to Rs 8.79 billion, better than expectations indicating a rise in outsourcing business. Analysts had forecast a median net profit of Rs 2.29 billion on sales of Rs 8.02 billion for the past quarter.
