Bengaluru: Infosys posted strong first-quarter numbers that beat market expectations, driven mainly by strong spending from top financial services and European customers. In rupee terms, revenues grew 1.8% to Rs17,078 crore, while net profit grew 1.4% to Rs3,483 crore. Analysts on average were expecting Infosys to post quarterly revenue of about $2.64 billion, or Rs16,987.90 crore, according to Bloomberg estimates. Infosys’s strong numbers come a day after larger rival and market leader Tata Consultancy Services (TCS) reported underwhelming numbers that disappointed investors. Infosys shares were trading up 1.45% at Rs990.50 on the Bombay Stock Exchange in early trade on Friday morning.

Source: Mint July 14, 2017 03:56 UTC