Infosys Shares Dip Amidst Post-Earnings Profit-Taking
Infosys Ltd saw its shares decline by over 1% on Thursday following profit-taking after the company reported impressive June quarter earnings. While net profit rose 8.7% year-on-year, the company narrowed its annual revenue growth forecast. Strong AI performance contributed to a 7.53% revenue increase.
- Country:
- India
Infosys Ltd experienced a dip in its stock value, declining over 1% on Thursday. This occurred as investors engaged in profit-taking a day after the IT giant disclosed its earnings for the June quarter.
Following the release of impressive results, Infosys shares fell 1.39% to Rs 1,552.45 on the BSE and Rs 1,552.60 on the NSE. The earnings report, revealing an 8.7% increase in net profit from a year earlier, led to a tightening of the company's revenue growth forecast.
Infosys posted a consolidated net profit of Rs 6,921 crore for the first quarter of the fiscal year, an improvement from Rs 6,368 crore in the corresponding period last year. Revenue rose by 7.53% year-on-year to Rs 42,279 crore, driven by strong performances in artificial intelligence services and deal acquisitions.
(With inputs from agencies.)
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