Infosys shares down nearly 3% in early trade on profit—booking

The company's consolidated net profit rose by 3.7% to Rs 2,374 crore for the April-June quarter. File photo: Sampath Kumar G.P.

Shares of IT major Infosys on Monday fell by nearly 3 per cent in early trade on profit—booking, after the stock had a smart rally in the previous session on better—than—expected first quarter earnings.

After making a weak opening, the stock further lost 2.62 per cent to Rs. 2,729.05 on the BSE.

At the NSE, the scrip was down 2.7 per cent to Rs. 2,728.30.

Dip in the stock was significant in sending the BSE benchmark Sensex down by 34.37 points to 19,924.10 at 1145 hrs. Infosys alone contributed 27.24 points to the overall Sensex fall.

Shares of IT major Infosys had on Friday ended with nearly 11 per cent gains, after the company posted a near 4 per cent increase in consolidated net profit for the April—June quarter, meeting market expectations.

The company’s

>consolidated net profit rose by 3.7 per cent to Rs. 2,374 crore for the April—June quarter against Rs. 2,289 crore in the year—ago period. Its consolidated revenues rose 17.2 per cent to Rs. 11,267 crore from Rs. 9,616 crore in the year—ago period.