Infosys Reports 16% Increase In Q1 Net Profit

Infosys Ltd INFY posted around 16% rise in its Q1 consolidated net profit. INFY's net profit came in at INR17.22 billion, versus INR14.88 billion, in the year-earlier period. Its consolidated revenue surged about 21% y/y to INR74.85 billion from INR61.98 billion. Analysts were expecting a net profit of INR17.26 billion on revenue of INR74.96 billion. Infosys projects revenue for the current fiscal year to rise 18% to 20% to $7.13 billion-$7.25 billion. Infosys shares closed at $65.10 yesterday.