Shares of Infosys jumped as high as 2 per cent in the intraday trade Friday ahead of the December quarter results. The stock hit the day’s high of Rs 741.80 as against the previous close of Rs 727.55. The shares were trading at Rs 741.05, up 13.50 points, or 1.86 per cent on NSE at the time of reporting. The IT major is slated to announce its Q3 results at 3.45 pm later today. The company management will also hold a press conference at around 4:30 pm. The earnings hold significance as the market is expected to closely analyse any developments around the whistleblower issue. According to a CNBC TV-18 poll, Infosys may report a profit of Rs 4,200 crore and revenue of Rs 23,190 crore in rupee terms. The company may post a dollar revenue of 3,258 million. EBITDA may be Rs 5,180 crore.
The probe into the whistleblower complaint, BFSI, and progress on initiatives to manage attrition and revenue growth would be the key focus areas for the investors.
Infosys reported 2.2 per cent on-year fall in consolidated net profit to Rs 4,019 crore. The IT major had posted a profit of Rs 4,100 crore in the same period of the corresponding period. In the September quarter, the revenue rose 9.8 per cent to Rs 22,629 crore, against Rs 20,609 crore in the year-ago period.
Meanwhile, equity benchmark BSE Sensex jumped over 200 points in early trade on Friday led by gains in IT and banking stocks amid easing geopolitical tensions. In the previous session, Sensex rallied 634.61 points, or 1.55 per cent, to end at 41,452.35, and Nifty surged 190.55 points, or 1.58 per cent, to 12,215.90.