Meanwhile, the S&P BSE Sensex was up by 80.46 points, or 0.21% to 38,816.19.
On the BSE, 1.03 lakh shares were traded in the counter so far compared with average daily volumes of 2.62 lakh shares in the past two weeks. The stock had hit a high of Rs 767 and a low of Rs 754 so far during the day. It hit a 52-week high of Rs 773.65 on 9 April 2019 and a 52-week low of Rs 600.65 on 26 November 2018.
On a consolidated basis, Infosys' net profit fell 6.8% to Rs 3802 crore on 1.23% increase in revenue from operations to Rs 21803 crore in Q1 June 2019 over Q4 March 2019. Operating profit fell 3.2% to Rs 4471 crore in Q1 June 2019 over Q4 March 2019. Operating margin was 20.5% in Q1 June 2019.
The company has increased FY20 revenue growth guidance in constant currency terms to 8.5-10% from 7.5%-9.5%, while maintaining FY20 operating margin guidance in range of 21-23%.
The company's reported that its current policy is to pay up to 70% of the free cash flow annually by way of dividend and/or buyback. The board has reviewed and approved a revised capital allocation policy of the company after taking into consideration the strategic and operational cash requirements. The company further stated that effective from financial year 2020, the company expects to return approximately 85% of the free cash flow cumulatively over a 5-year period through a combination of semi-annual dividends and/or share buyback and/or special dividends, subject to applicable laws and requisite approvals.
Salil Parekh, CEO, reported that the company had a strong start to FY20 with constant currency growth accelerating to 12.4% on year over year basis and digital revenue growth of 41.9%.
Infosys is a global leader in next-generation digital services and consulting. The company designs and delivers information technology (IT)-enabled business solutions to their clients.