Shares of IT major Infosys fell over 4 percent on October 14 on the company’s softer July-September quarter numbers.The company, on October 11, reported a 5.8 percent sequential growth in Q2 FY20 with its net profit at Rs 4,019 crore.Revenue during the quarter rose 3.8 percent QoQ to Rs 22,629 crore. The same in dollar terms rose 2.5 percent at $3,210 million, in line with a CNBC-TV18 poll of $3,220.7 million. Year-on-year (YoY), core revenue declined by about 2 percent.Close Brokerages and analysts have come out with mixed reviews of the company’s Q2 performance. related news Time for Infosys founders to move on – once and for all Ideas for Profit | Pidilite Industries: Proceed with caution Sensex, Nifty at record highs! Here are 15 largecaps that investors can buy now “Post the Q2FY20 numbers, we have largely maintained our expectations of 10 percent revenue growth for FY20 and FY21 while 7 percent and 14 percent growth in net profits for FY20 and FY21. EBIT margins are expected to be around 21.9 percent for FY20 and 22.8 percent for FY21,” said Vineeta Sharma, Head of Research at Narnolia Financial Advisors.”Infosys has suffered the pain of lowering margins and reduced growth… Read full this story
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Infosys Q2: Numbers broadly in line, but challenges ahead; here's what brokerages say have 359 words, post on www.moneycontrol.com at October 14, 2019. This is cached page on Konitono News. If you want remove this page, please contact us.