Profit during the quarter fell 3.3 percent sequentially to Rs 3,483 crore and revenue declined 0.2 percent to Rs 17,078 crore.
Dollar revenue growth was 3.2 percent at USD 2,651 million against expectations of 2.6 percent increase and constant currency revenue growth came in at 2.7 percent against estimates of 2 percent.
"Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results," Vishal Sikka, CEO & MD said.
The IT bellwether has maintained its constant currency revenue growth guidance at 6.5-8.5 percent (which was 8.3 percent in FY17 and 13.3 percent in FY16) and also retained operating margin guidance at 23-25 percent for the current financial year.
It raised its FY18 dollar revenue growth guidance to 7.1-9.1 percent from 6.1-8.1 percent earlier.
9:15 am Market Opens: Benchmark indices continued their bullish run on the market, with the Sensex and Nifty conquering fresh records. The latter opened above 9900 for the first time.
The Sensex was up 72.24 points at 32109.62, while the Nifty was up 12.70 points at 9904.40. The market breadth was positive as 369 shares advanced against a decline of 109 shares, while 22 shares were unchanged.
Midcaps outperformed in the opening tick along with pharma, while the IT and PSU bank indices on Nifty opened in the red.
Infosys, Adani Ports and Aurobindo Pharma gained the most on both indices, while TCS, HDFC and Asian Paints were the top losers.
The Indian rupee opened flat at 64.44 per dollar on Friday against previous close 64.44.
Meanwhile, The dollar index was largely steady against a basket of major currencies helped by upbeat economic data. The dollar edged upon against the yen though it's still below the highs hit earlier this week.
Bhaskar Panda of HDFC Bank said, "The USD-INR pair has been consolidating in a range and we expect it to trade in a range of 64.40-64.60 today. The lower than expected CPI data has brought the focus back on rate cut."
He further added, "We expect the 10-year benchmark bond yield to trade in a range of 6.44-6.46 percent for the day."
On the global front, stocks scaled record highs on Friday, with Asian equities rising for the fifth straight session, as signs the Federal Reserve will pursue a gradual rate tightening path and hopes of a strong earnings season lifted appetite for risk assets.
The MSCI World Index was marginally higher early on Friday, hitting a new all-time high. It is on track to end the week 1.6 percent higher.
MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.25 percent to its highest level in two years. It's set for a 3.2 percent gain for the week.
Japan's Nikkei added 0.2 percent, poised for a weekly rise of 1.05 percent.
Meanwhile, Wall Street posted slight gains on Thursday and the Dow hit another record high close, with financials rising ahead of profit reports due Friday from several big US banks.
The financial index was the best performer among the 11 major S&P sectors, ending up 0.61 percent.
Quarterly earnings kick off on Friday with three of the biggest US banks including JPMorgan Chase , Wells Fargo and Citigroup reporting results.
To Get Free
Trial on stock market tips,equity trading tips give
Missed call
@8817002233,WHATSAPP NO. 8602780449
Mail Us =
starindiamarket@gmail.com
No comments:
Post a Comment