Infosys posted nearly 23 percent rise in June 2021 quarter net profit at Rs 5,195 crore
Infosys posted nearly 23 percent rise in June 2021 quarter net profit at Rs 5,195 crore
Reuters

Infosys shares turned volatile in early trade on Thursday, a day after the IT services major posted nearly 23 percent rise in June quarter net profit and raised its revenue growth outlook for the full fiscal.

After a weak start, the stock went to a high of Rs 1,597.25, up 1.29 percent on the BSE. Volatile trends emerged as the trade progressed and it dipped 1.62 percent to Rs 1,551.25. Later, it was trading flat at Rs 1,581, marginally up by 0.26 percent.

At the NSE, it hit a low of Rs 1,556 and high of Rs 1,596.85 after a muted start.

Infosys on Wednesday posted nearly 23 percent rise in June quarter net profit at Rs 5,195 crore and raised its revenue growth outlook for the full fiscal to 14-16 percent buoyed by its robust deal pipeline and "strong" Q1 performance.

Infosys, which has drawn flak over glitches in the new Income Tax portal, said this project is the biggest priority for the company right now and that it is working expeditiously to resolve the issues.

The Bengaluru-based company's revenue from operations grew 17.8 percent to Rs 27,896 crore in the first quarter of FY22, from Rs 23,665 crore in the year-ago period.

Infosys upped its revenue guidance for FY22 to 14-16 percent, from the previous outlook of 12-14 percent, and said that its confidence stemmed from strong Q1 growth, good order wins and robust deal pipeline.

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