Infosys share price fell over 3% in early trade on Monday after the company reported softer Q2 earnings. The stock dropped to Rs 1,109.70 on the BSE. While net profit rose slightly to Rs 7,823 crore, the firm cut its full-year revenue growth guidance, which worried many investors today.
Infosys share price fell over 3% in early trade on Monday after the IT major reported softer Q2 earnings. The IT stock declined as much as 3.88% to Rs 1,109.70 apiece on the BSE.
The second largest IT services company, Infosys, reported 0.7% rise consolidated net profit to Rs 7,823 crore in the September quarter from Rs 7,769 crore in the June quarter.
The company's revenue in Q2FY27 rose 2.1% to Rs 49,244 crore from Rs 48,211 crore, quarter-on-quarter (QoQ). In US Dollar terms, revenue grew 1.3% sequentially of to $5,145 million. Infosys reported constant currency revenue growth of 1.2%. AI now formed 10.5% of the overall topline.
At the operational front, EBIT was up 1.6% QoQ to Rs 10,330 crore, while EBIT margin stood at 21% from 21.1% in the June quarter.
The Bengaluru-based IT services provider cut its revenue growth guidance. Infosys now expects its full year revenue growth to be between 1% to 2% from the earlier projection of 1.5% to 3%. EBIT margin guidance has been maintained between 20% to 22%.
At 9:25 AM, Infosys share price was trading 3.05% lower at Rs 1,119.30 apiece on the BSE.