Infosys Q1 Highlights: CEO Salil Parekh Says Core Services Emphasis Resonating With Clients
Infosys announced its earnings for the April-June quarter today. Net profit came in at Rs. 3,612 crore, missing analysts' estimates. Analysts had on on average expected a net profit of Rs. 3,740 crore, according to Thomson Reuters data. With that, Infosys became the second large cap IT company to report its Q1 results. The software services exporter kept its revenue growth projection unchanged at 6-8 per cent for the current financial year. The Q1 report card was the second under CEO Salil Parekh, who assumed charge in January this year. Infosys had posted a net profit of Rs. 3,690 crore over revenue from operations of Rs. 18,083 crore in the previous quarter. Infosys announced a 1:1 bonus, subject to regulatory and shareholder approvals. A 1:1 bonus means that the shareholder will get one share for each share held.