Infosys beats expectations in the markets

Infosys Technologies, India's second largest software services provider, reported its first quarter earnings fell 2 percent quarter-on-quarter. The numbers beat street's expectations and the company maintained its FY16 revenue guidance at 10-12% in constant currency. Its shares rose.

Infosys raised its FY16 Revenue guidance in Dollar terms to 7.2-9.2%, a rise of 1 percentage point. Infosys surged 8.5 percent to 1,088 rupees in early deals.

Infosys said its April-June Consolidated net profit stood at 3,030 crore rupees compared with 3,017 crore rupees in a poll of analysts. Sales stood at 14,354 crore rupees compared with 14,100 crores estimate by brokerages.

Infosys said its April-June consolidated Dollar Sales stood at $ 2,256 million versus estimates of $2,220 million. Q1 EBIT Margin stood at 24.01% vs polls of 24.1%

The attrition rate stood at 14.2 percent in the past quarter. Utilisation rate stood at 160 bps at 80.2 percent, excluding trainees.

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