Infosys shines bright

After the disappointing Q1FY18 numbers of TCS, expectations from Infosys were as such low but this time around, it beat all estimates. For Q1FY18, Infosys net profit fell 3% (QoQ) to Rs.3483 crore on a 0.2% decline in revenue at Rs.17,078 crore.

Dollar revenue showed a 3% growth at $2,651 million and constant currency revenue grew 3% too. EBITDA was down 2.4% at Rs.4111 crore and margins fell 60 bps to 24%.

The good news – Infosys maintained its constant currency revenue growth guidance at 6.5-8.5%; increased its FY18 dollar revenue growth guidance to 7.1-9.1% v/s 6.1-8.1% earlier.  It also maintained its EBIT margin guidance at 23-25% for FY18.

The stock price, which has closed yesterday at Rs.976.30 opened at Rs.1000 today, going up to Rs.1006.65 and currently remains in the green.