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Infosys shares fall nearly 3%; m-cap drops by Rs 9,241 cr post Q4 earnings

twitter-logo PTI        Last Updated: April 15, 2019  | 17:03 IST

New Delhi, Apr 15 (PTI) Shares of IT major Infosys fell by nearly 3 per cent Monday as the company's March 2019 quarter earnings failed to cheer investors. The scrip closed the day at Rs 726.65 on the BSE, down 2.83 per cent. During the day, it dropped 4.56 per cent to Rs 713.70. At the NSE, shares fell 2.61 per cent to close at Rs 728.20. The scrip was the major drag on both the key indices during the day. In terms of volume, 10.71 lakh shares were traded on the BSE, while over 3 crore shares changed hands on the NSE during the day. The company's market valuation also plunged by Rs 9,240.6 crore to Rs 3,17,468.40 crore on the BSE. Infosys Friday posted a 10.5 per cent rise in consolidated net profit at Rs 4,078 crore for the March 2019 quarter, and guided towards 7.5-9.5 per cent growth in revenue for 2019-20. The company's revenue increased 19.1 per cent to Rs 21,539 crore in the March 2019 quarter from Rs 18,083 crore in the year-ago period. The country's second-largest software services firm said it expects its topline to grow 7.5-9.5 per cent in 2019-20 in constant currency terms. It expects its operating margin in 2019-20 to be in the range of 21-23 per cent. Operating margin for 2018-19 stood at 22.8 per cent. Sanjeev Hota, AVP Research at Sharekhan by BNP Paribas, said Infosys has delivered a mixed set of earning performance but its revenue guidance is a tad "conservative". "Deal wins remain strong and management has guided for 7.5-9.5 per cent revenues growth for FY20E (estimate), which we believe is bit conservative. "Nevertheless, company delivered strong growth on digital revenues front. On the flip side, management has lowered the margins guidance to 21-23 per cent, which was below our expectations and also attrition inched up during the quarter," he said. PTI SUM RVK RVK

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