Infosys rose 5.09% to Rs 2,075 at 13:17 IST on BSE after the company retained its revenue guidance for the fiscal year ending March 2015.
Meanwhile, the BSE Sensex was up 13 points, or 0.05%, to 27,287.71.
On BSE, so far 7.91 lakh shares were traded in the counter, compared with an average volume of 2.04 lakh shares in the past one quarter.
Trading in the stock was volatile. The stock rose 6.76% at the day's high of Rs 2,108 so far during the day. The stock fell 3.06% at the day's low of Rs 1,914.10 so far during the day.
The stock hit a 52-week high of Rs 2,200.50 on 1 December 2014. The stock hit a 52-week low of Rs 1,447 on 30 May 2014.
The stock had outperformed the market over the past one month till 8 January 2015, rising 0.30% compared with 3% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 8.19% as against Sensex's 3.92% rise.
The large-cap company has an equity capital of Rs 574.24 crore. Face value per share is Rs 5.
In a press release, Infosys said that the company has maintained its guidance of 7%-9% growth in revenue in dollar terms for the year ending March 2015 (FY 2015) based on exchange rates as on 30 September 2014. Due to cross currency headwinds, analysts were expecting Infosys' management to prune the company's revenue growth guidance in dollar terms for FY 2015 at the time of announcement of Q3 results today, 9 January 2015.
On a consolidated basis, Infosys' net profit as per International Financial Reporting Standards (IFRS) rose 4.97% to Rs 3250 crore on 3.40% rise in revenue to Rs 13,796 crore in Q3 December 2014 over Q2 September 2014. The result was announced during trading hours today, 9 January 2015.
Infosys and its subsidiaries added 59 clients (gross) in Q3 December 2014. It made a gross addition of 13,154 employees during the quarter. Infosys and its subsidiaries reported 1.69 lakh employees as on 31 December 2014.
Meanwhile, Infosys announced during trading hours today, 9 January 2015, that Parvatheesam Kanchinadham, Chief Risk & Compliance Officer and Company Secretary, will be leaving the company effective 10 January 2015. Parvatheesam has been with the company for the past 12 years and has contributed in multiple areas. David Kennedy, General Counsel, will assume the role of Chief Compliance Officer. Manikantha A.G.S., will be the interim Company Secretary.
Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of deposits and government bonds were Rs 34873 crore as on 31 December 2014 as compared to Rs 33616 crore as on 30 September 2014.
"We are excited by several breakthrough results in Q3. Our 'renew and new' strategy, is being received well by our clients and our ecosystem and we are already seeing its early adoption," said Dr. Vishal Sikka, CEO and Managing Director. "Based on our strong performance, we are intensifying our efforts to deepen employee engagement, client ecosystem and strengthen our foundation of education as we build a next generation services company that innovates for consistent profitable growth."
"During the quarter, we saw broad-based volume growth, increased utilization and strong client additions," said U. B. Pravin Rao, Chief Operating Officer. "We have made 100% variable payout for Q3 and have seen a further decline in attrition as a result of multiple initiatives taken over the last few quarters."
"Our sequential revenue growth in Q3 was adversely impacted to the extent of 1.8% due to USD appreciation against other major currencies," said Rajiv Bansal, Chief Financial Officer. "We made required investments keeping in mind short-term priorities and long-term aspirations."
Infosys is a global leader in consulting, technology and outsourcing solutions.
Powered by Capital Market - Live News
