ADVERTISEMENT
Infosys Posts 14% Rise In Q2 Profit, Announces Salary Hikes From January
14 Oct 2020, 05:02 PM IST 
Bengaluru-based Infosys raised its annual revenue growth forecast
- Analysts on average had expected the company's profit at Rs 4,519 crore over revenue of Rs 24,191 crore, news agency Reuters reported citing Refinitiv data.
- The company's upbeat profit this quarter comes in contrast to peers TCS and Wipro, which saw their profit drop 7.1 per cent and 3.4 per cent respectively.
- Revenue from its financial services segment grew 5.55 per cent to Rs 7,871 crore, and that from retail rose 7.67 per cent to Rs 3,651 crore, Infosys said.
- Bengaluru-based Infosys raised its annual revenue growth forecast. The company - co-founded by billionaire NR Narayana Murthy - revised its annual revenue forecast to 2-3 per cent in constant currency terms, from an earlier expectation of 0-2 per cent.
- “Increase in revenue and margin outlook for FY21 is due to the continued trust clients have in us. I am extremely proud of our team for achieving these results in challenging business conditions globally," said Salil Parekh, CEO and managing director, Infosys.
- Infosys said it will roll out salary increases and promotions across all levels effective January 1.
- Infosys reported a quarterly operating margin of 25.4 per cent, up from 21.7 per cent last year, following rivals Tata Consultancy Services that posted a 2.2 per cent rise in its operating margin to 26.2 per cent. Wipro saw a marginal rise to 19.2 per cent for the period.
- The company's board announced an interim dividend of Rs 12 per share, and fixed November 11 as payment date.
- During the quarter, Infosys had a gross addition of 96 clients, in line with 96 client additions last year.
- The software major said its voluntary attrition for IT services declined to 7.8 pre cent, from 18.3 per cent in the year-ago period.
