Earnings impact: Infosys ADR shares jump 5% in US trading


NEW DELHI: Following a strong December quarter numbers, Infosys ADR (American Depositary Receipt) shares climbed about 5 per cent in the opening tick on New York Stock Exchange.

The scrip traded at $26.19, up 4.68 per cent from previous close, quotes updated on Google Finance showed. The movement in ADR shares is a good indicator of how the stock will behave in Indian markets on Thursday when trading resumes.

The IT major on Wednesday said its consolidated net profit for the quarter ending December climbed 11.8 per cent to Rs 5,809 crore from Rs 5,197 crore in the corresponding quarter last year.

The company also said its revenue from operations increased 22.91 per cent year-on-year (YoY) to Rs 31,867 crore. The figure stood at Rs 25,927 crore in the same quarter last year.

The Bengaluru-based firm said it delivered a strong Q3 performance with sequential growth in a seasonally weak quarter.

outlined that its growth remained broad-based and deal momentum was robust, with digital transformation rapidly scaling across verticals and regions.

“Overall, strong revenue growth in the quarter along with robust deal booking but the sharp spike in attrition is a matter of concern,” said Piyush Pandey, Lead Analyst – Institutional Equities, YES Securities.

The company upgraded its revenue guidance to 19.5 per cent-20 per cent for FY22. Earlier it had estimated growth at 16.5-17.5 per cent in constant currency.

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