Infosys gains over 3% post Q3 results; should you invest?

NEW DELHI: Shares of InfosysNSE 4.67 % gained over 3 per cent in Monday’s session after the IT major on Friday posted better-than-expected performance for the three months ended December 2019.

Infosys reported a 23.49 per cent year-on-year (YoY) rise in profit at Rs 4,457 crore compared with Rs 3,609 crore in the corresponding quarter last year. The figure stood higher than ETNow poll estimate of Rs 4,204.50 crore.

The company raised FY20 constant currency revenue guidance to 10-10.5 per cent compared to 9-10 per cent earlier. The investigation into the recent whistle-blower allegations concluded with no evidence of wrong-doing found against the company, CEO and CFO, which analysts said is a relief.