Infosys shares rallied on Tuesday after the India's second largest software exporter reported better than expected earnings for the fourth quarter. The share price rise pushed the market capitalization up by 58.3 billion to Rs 1.92 trillion.
The company reported 24.98% growth in consolidated net profit of Rs 29.92 billion for the quarter ended Mar. 31, 2014 as compared to Rs 23.94 billion in the same period last year. On quarter on quarter basis, it posted a rise of 4.07% in the net profit. Market was expecting profit to come at Rs 28.35 billion.
Revenues has increased from Rs 128.8 billion for the quarter ended Mar. 31, 2014 to Rs 104.5 billion for the year ended Mar. 31, 2013, representing increase of 23.16%. On quarter on quarter basis, it posted a fall of 1.16% in the revenues.
''Revenues are expected to grow 5.6%-7.6% (consolidated) for the fiscal year ending Mar. 31, 2015, under IFRS,'' the company said.
Shares of the company are trading at Rs 3,337.40, up Rs 101.55, or 3.14% at the Bombay Stock Exchange (BSE) on Tuesday at 9:48 a.m.
The scrip has touched an intra-day high of Rs 3,371.80 and low of Rs 3,325.00. The total volume of shares traded at the BSE is 72,804.
In the earlier session, the shares rose 0.91%, or Rs 29.25, at Rs 3,235.85.
Currently, the stock is trading down 13.25% from its 52-week high of Rs 3,847.20 and above 52.39% over the 52-week low of Rs 2,190.