Profit

Infosys Posts 6% Rise In September Quarter Profit, Raises Revenue Guidance

Infosys, the country's second largest software services company, reported net profit of Rs 4,019 crore in the quarter ended September 2019.

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Infosys Posts 6% Rise In September Quarter Profit, Raises Revenue Guidance

Infosys' revenue from digital services came in at $1,230 million.


Infosys, the country's second largest software services company, on Friday reported a net profit of Rs 4,019 crore for the quarter ended September 30. That marked an increase of 5.8 per cent in its net profit compared with the previous quarter. Infosys' revenue from operations rose 3.78 per cent to Rs 22,629 crore in the second quarter of current financial year, from Rs 21,803 crore in the April-June period. The company clocked double-digit growth for the fourth consecutive quarter, coupled with a 1.2 per cent expansion in its operating margin in the second quarter, Infosys said in a press release.

The company raised the lower-end of its revenue guidance to 9 per cent from 8.5, and maintained the upper-end at 10 per cent in constant currency terms. Infosys maintained its operating profit margin guidance in the range of 21 per cent to 23 per cent.

"Our performance was robust on multiple dimensions - revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition", said Salil Parekh, chief executive officer and managing director, Infosys.

"All these are clear signs that we are progressing well in our journey of client-centricity and maximizing value for our stakeholders," he added.

Infosys said it signed large deals worth $2.8 billion during the quarter. Its revenue rose 2.5 per cent in dollar terms sequentially, and 3.3 per cent in constant currency terms, to $3,210 million.

Infosys' revenue from digital services came in at $1,230 million which was 38.3 per cent of its total revenue.

"Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance", said Pravin Rao, COO of Infosys.

"Large deal wins were $2.8 billion. We are especially pleased by the reduction in attrition driven by our focus on enhanced employee value proposition," he added.

Infosys shares ended 4.19 per cent higher at Rs 815.70 apiece on the BSE ahead of the earnings announcement, outperforming the benchmark Sensex index which gained 0.65 per cent.



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