Infosys to announce Q3FY20 earnings next week; share price rises 1%

infosys

Shares of Infosys gained a percent intraday on January 1 after the IT major said it will announce its Q3FY20 earnings next week.

The stock gained 6 percent in the last month on the back of weakening rupee. It was quoting at Rs 734.25, up Rs 2.50, or 0.34 percent on the BSE at 1008 hours.

The country’s second largest software services company on December 31 said a meeting of the board of directors will be held at the registered office on January 9 and 10 to consider to the audited consolidated financial results as per Indian Accounting Standards (IndAS) for the quarter and nine months ending December 31, 2019.

The IT firm will also consider its audited standalone financial results as per IndAS and audited consolidated condensed financial statements and its subsidiaries as per IFRS for the quarter and nine months ending December 2019.

The financial results will be presented to the board of directors on January 10, 2020 for their approval, it said.

The company further said it would hold investor/ analyst calls on same day to discuss the financial results for the quarter and business outlook.

Key things to watch out for would be deal wins, digital business growth and any change in FY20 guidance.

In the quarter ended September 2019, Infosys signed deals worth $2.8 billion and reported 3.3 percent revenue growth QoQ in constant currency.

It had increased its lower end of FY20 revenue guidance and revised to 9-10 percent growth in constant currency, but maintained operating margin guidance range of 21-23 percent.

News Source:- Moneycontrol

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