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Infosys repays faith with stellar Q2 performance; stock gains over 4%

Unlike Tata Consultancy Services (TCS), Infosys’ (Infy) September quarter results did not disappoint the Street. While Infy’s revenue growth was a tad lower than what analysts had forecast, it outperformed on the margin front. The IT services firm reported an Ebit (earnings before interest and tax) margin of 21.7 per cent, a rise of 120 basis points (bps). Analysts had pegged the increase at 100 bps. However, what the Street will keep an eye out for, on Monday, is the revision in growth estimates by the company. A second consecutive upward revision is widely …


Source: Business Standard