Loading

wait a moment

Infosys Zooms After Posting Stellar Q3 Numbers, Clean Chit To Top Brass

Infosys Zooms After Posting Stellar Q3 Numbers, Clean Chit To Top Brass

Infy share: Infosys stock had zoomed by 34 points or 4.7 per cent

Infosys is in the limelight this morning after beating Street expectations in the third quarter of the current financial year. At 11.15am, the IT bellweather is leading the gains on the broader markets. The stock of Infosys was trading near its day’s high at Rs 773, higher by 34 points or 4.7 per cent. It had opened at Rs 763 and touched an intra-day high of Rs 774 and a low of Rs 755 thus far.

India’s second largest IT company, reported net profit of Rs 4,457 crore for the period, which marked an increase of 10.9 per cent from Rs 4,019 crore in the previous quarter. The Bengaluru-based IT services company also raised its revenue guidance in constant currency terms for the ongoing financial year to range of 10-10.5 per cent from 9-10 per cent guided earlier. The results were declared after market hours on Friday.

In a related development, Infosys’ audit committee absolved its CEO Salil Parekh from charges of financial impropriety and executive misconduct that were alleged by an anonymous whistleblower complaint.