Infosys Q1 Profit Down; Backs FY Revenue Guidance


(RTTNews.com) - Infosys Limited ( INFY ) reported that its net profit for the first-quarter ended June 30, 2018 was $534 million, including impact of $39 million on account of reduction in the fair value of Assets held for sale, year-over-year decline of 1.2%. But, earnings per share was $0.25 for the quarter ended June 30, 2018, including impact of $0.02 on account of reduction in the fair value of Assets held for sale year-over-year growth of 3.9%.

Revenues were $2.831 billion for the quarter ended June 30, 2018, year-over-year growth of 6.8%.

For the fiscal year ending March 31, 2019, Infosys still expects revenues to grow 6%-8% in constant currency.

The Board appointed Michael Gibbs as an Independent Director of the Company effective July 13, 2018 for a period of three years, based on the recommendation of the Nomination and Remuneration Committee of the Board.

The Board approved and recommended the issue of bonus shares to celebrate the 25th year of Company's public listing in India and to further increase the liquidity of its shares. The bonus issue of equity shares and ADSs will be subject to approval by the shareholders, and any other applicable statutory and regulatory approvals.


Read the original article on RTTNews (http://www.rttnews.com/2913521/infosys-q1-profit-down-backs-fy-revenue-guidance.aspx)


For comments and feedback: contact editorial@rttnews.com




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of NASDAQ, Inc.