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Infosys Q1 net profit rises 13.4% to Rs 3,436 crore


IT major Infosys on Friday posted a 13.4 per cent rise in consolidated net profit. Net Profit stood at Rs 3,436 crore (Rs 34.36 billion) for the first quarter ended June 2016. Company slashed full-year revenue guidance to 10.5-12 per cent in constant currency terms.

Infosys campus.
Infosys campus.

The numbers were below market expectations, leading to the Infosys stock tumbling 8.4 per cent to Rs 1,077.10 on BSE in early trade.

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Brexit may create walls, but brings opportunities: Sikka


Infosys CEO’s comments come a day after larger rival Tata Consultancy Services said it is keeping a close ‘watch’ on the European market in the context of Brexit, but is yet to see any client-specific negativity.

Brexit

Infosys chief executive officer Vishal Sikka on Friday said Brexit has led to uncertainty in the near term, but expressed optimism that it may also offer revenue growth ‘opportunities’ as new demand for technology services and integration comes up in medium to long term.

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France truck attacker formally identified


France truck attack
France Truck Attack

The attacker of France truck attack in Nice formally identified, says police source. The truck driver who killed 84 people celebrating Bastille Day in the French Riveria city of Nice, is believed to be of Tunisian descent.

He is a 31-year-old Franco-Tunisian man whose identity papers were found in the vehicle after the attack on France’s July 14 national holiday.

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