Infosys to announce third quarter results on January 11 or 12
IT major Infosys has said a meeting of its Board of Directors will be held on 11 and 12 January 2019 to consider the audited consolidated financial results of the company and its subsidiaries for the quarter and nine months ending 31 December 2018.
Infosys, the country’s second largest IT services provider, is expected to report marginal growth in profitability for the quarter ended December 2018, but revenue growth could be an average 1.5 percent considering a seasonally weak quarter.
The software firm will announce its October-December quarter earnings on January 11. Overall, brokerage houses expect profit growth in the range of negative 3.8 percent to positive 5.2 percent. Infosys is expected to post a net profit of Rs 4,088.60 crore and revenue of Rs 20,292 crore in the December quarter.
Following the earnings announcement, the leadership team of the IT major will be part of a common press conference at 4:45 p.m. IST, the company informed the exchange. The company will conduct a single 60-minute conference call at 6:00 p.m. IST, where the senior management will discuss the company’s performance and answer questions from participants.
Historically, either of TCS or Infosys starts the earnings season for the entire listed space for many years. The due will set the guidance for the information technology sector which reflects the overall economic sentiments and business environment.
According to market analysts, the December quarter is generally tepid for Indian IT companies due to holidays and budget revisions by global clients.
Meanwhile, shares of the Large cap company were trading at Rs 667.90 apiece, up 0.49 percent, against the previous closing price of Rs 664.65. During the day’s trade so far, scrip touched an intra-day high and low of Rs 673.70 and Rs 662.45, respectively.