Infosys, India's second largest software exporter, today reported a better-than-expected growth in consolidated net profit  for the quarter ended Jun. 30, 2015. According to polls, market expected profit to come at Rs 30.17 billion.

For the quarter ended Jun. 30, 2015, net profit increased 5% to Rs 30.30 billion  as compared to Rs 28.86 billion in the same period last year. On sequential basis, the company registered a fall of 2.1% in the net profit.  Revenues for the current quarter increased to Rs 143.54 billion from Rs 127.70 billion for the quarter ended Jun. 30, 2014, representing an increase of 12.4%. On quarter-on-quarter basis, the company  showed an increment of 7% in the revenues.

Commenting on the result, Sarabjit Kour Nangra, VP Research, IT, Angel Broking, said, ''Infosys announced its 1QFY2016 results today, which came well ahead of expectations on the sales front. In terms of guidance, for FY2016 revenue guidance has been retained at 10%-12% in constant currency; increased to 7.2%-9.2% in USD terms. We maintain our BUY rating on the stock with a target price of INR 1,315.''

Meanwhile, ICICIdirect said, ''Infosys reported robust Q1FY16 earnings as dollar revenues were ahead of our and consensus estimates while margins were in line. Growth was led by manufacturing, retail, North America and the Rest of the world. Infosys maintained its 10-12% YoY constant currency revenue growth guidance for FY16E. However, it raised its USD revenue growth guidance to 7.2-9.2% (compared to 6.2-8.2% earlier) primarily driven by Q1 beat. Reported PAT of Rs 30.30 billion was also above our Rs 29.70 billion estimate led by revenue beat.''

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