Infosys shares drop 4% after Q2 earnings

New Delhi: Shares of Infosys on Monday fell nearly 4 per cent after the company reported a decline in its consolidated net profit for the July-September quarter.

The scrip dropped 3.68 per cent to close at Rs 785.65 on the BSE. During the day, it sank 4.25 per cent to Rs 781. On the NSE, it fell 3.49 per cent to close at Rs 786.30.

The company's market valuation declined by Rs 12,905.99 crore to Rs 3,37,440.01 crore on the BSE. The stock was the worst hit among the Sensex and Nifty components.

In terms of traded volume, 4.55 lakh shares of the company were traded on the BSE and 1.5 crore shares changed hands on the NSE.

The country's second-largest IT services company on Friday said its consolidated net profit declined by 2.2 per cent to Rs 4,019 crore for the July-September 2019 quarter.