Accenture March quarter performance benefits Infosys, TCS

New Delhi : Shares of Infosys and Tata Consultancy Services surged up by two percent in early trade on Monday. The gain was a clear result of strong earnings by Ireland-based IT software company Accenture, which raised hopes for good March quarter performance.

After the results, Infosys touched a 52-week high of Rs. 1,234.65.

Accenture’s second quarter revenue increased by six percent year-on-year to USD 7.9 billion in dollar terms and 12 percent in local currency (constant currency – CC), which was far better than its given guidance of 6-9 percent CC growth.

For the quarter ending May 2016 (Q3FY16), it expects revenue at USD 8.1-8.35 billion, implying CC growth of 6.7-10 percent on annual basis. Operating profit margin grew by 10 basis points to 13.7 percent year-on-year and profit (net income) was at USD 1.3 billion for the quarter. (ANI)