Infosys Q1 net likely to fall 6% to Rs 2246 cr: Nirmal Bang

Nirmal Bang has come out with its first quarter (April-June) earnings estimates for technology sector. The brokerage house expects Infosys to report a 6.2 percent degrowth quarter-on-quarter (degrowth of 1.9 percent year-on-year) in reported profit after tax of Rs 2,245.8 crore.

Revenues are expected to increase by 5.1 percent Q-o-Q (14.2 percent Y-o-Y) to Rs 10,984 crore, according to Nirmal Bang.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 1.1 percent Q-o-Q (down 4.9 percent Y-o-Y) to Rs 2801.2 crore.

Nirmal Bang report on Infosys

We expect Infosys to post a subdued 1.3 percent Q-o-Q revenue growth (USD 1,963 million) and expect continued under-performance against its peers TCS and HCL Technologies .

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