Q2 Results Updates: Infosys ADR Falls Over 3%, Wipro Down Over 4%
Wipro profit rises 6% at Rs 3,226.60 crore meeting Bloomberg analyst expectations.
Q2 Results Live: CEAT Profit Falls 42%
Revenue up 8.2% to Rs 3,304.53 crore versus Rs 3,053.32 crore (Cons, YoY).
Net profit down 42% to Rs 121.45 crore versus Rs 207.72 crore (Cons, YoY).
Ebitda down 21% to Rs 362.28 crore versus Rs 456.12 crore (Cons, YoY).
Margin at 11.0% versus 14.9% (Cons, YoY).
Inventory writeback of Rs 56.9 crore versus Rs 3.8 crore (Cons, YoY).
Q2 Results Live: Infosys Aspires To Increase Margins In the Mid Term
Infosys has arrested margin decline and offset the headwinds, said Jayesh Sanghrajka, CFO, Infosys. He also added that the aspiration continues to increase margins in the mid-term.
Margin contribution from project maximus has delivered well he said.
Q2 Results Live: Infosys Sees Japan And Middle East As Newer Growth Markets
Infosys is seeing slowdown in automotive in Europe, said Salil Parekh, chief executive officer at Infosys. He also noted that discretionary spend in financial services in improving since last quarter.
Further, he added retail, high tech and telco's discretionary budgets are constrained.
Further he added that Japan and Middle East are newer growth markets.
Q2 Results Live: Wipro ADR Fell Over 4%
The American Depository Receipts of Wipro Ltd. was trading over 4% lower on Thursday after it reported its second quarter earnings on Thursday.
The ADR of the tech major fell as much as 4.21% to $6.150. The scrip opened at $6.345 but later fell to 4.21% lower as of 9:37 a.m. EDT.
Q2 Results Live: Infosys ADR Fell Over 3%
The American Depository Receipts of Infosys Ltd. was trading over 3% lower on Thursday after it reported its second quarter earnings on Thursday.
The ADR of the tech major fell as much as 3.65% to $22.07. The scrip opened 2% lower but later fell to 3.71% lower as of 9:37 a.m. EDT.
