Profit

Infosys Beats Estimates In June Quarter With Rs 3,802 Crore Profit

Infosys Share: Shares in Infosys ended 0.87% higher at Rs 727.10 apiece on the Bombay Stock Exchange (BSE), outperforming the benchmark Sensex index.

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Infosys Beats Estimates In June Quarter With Rs 3,802 Crore Profit

Infosys Q1 Results: Infosys guided for a revenue growth in the range of 8.5-10%.

Infosys, the country's second largest software services company, on Friday reported a net profit of Rs 3,802 crore for the quarter ended June 30. That marked a decline of 6.76 per cent compared to the previous quarter, but beat analysts' estimates. The IT major, however, raised its revenue growth guidance to 8.5-10 per cent for the current financial year from 7.5-9.5 per cent, it said in a regulatory filing after market hours. Shares in Infosys ended 0.87 per cent higher at Rs 727.10 apiece on the Bombay Stock Exchange (BSE), outperforming the benchmark Sensex index which finished down 0.22 per cent.
Here are 10 things to know:
  1. Analysts had on an average expected the Bengaluru-based IT company to report a net profit of Rs 3,705 crore in the first quarter of 2019-20, news agency Reuters reported.
  2. Revenue from operations rose 1.23 per cent to Rs 21,803 crore in April-June period, as against Rs 21,539 crore in the previous quarter.
  3. Infosys guided for a revenue growth in the range of 8.5-10 per cent for financial year ending March 31, 2020 in constant currency terms, from 7.5-9.5 per cent.
  4. In dollar terms, the IT major's revenue grew 2.3 per cent to $3,131 million. In terms of constant currency, the revenue grew 2.8 per cent on a sequential basis, said Infosys.
  5. In the first quarter of the financial year 2019-20, the company's digital revenue - which comprises 35.7 per cent of total revenue - came in at $1,119 million in constant currency terms, marking a growth of 41.9 per cent compared to the corresponding period a year ago.
  6. The company's operating profit or EBIT (earnings before interest and taxes) came in at $642 million, and operating profit margin stood at 20.5 per cent. The company maintained its financial year 2019-20 operating margin guidance at 21-23 per cent.
  7. "We had a strong start to FY 20 with constant currency growth accelerating to 12.4 per cent on year over year basis and digital revenue growth of 41.9 per cent," said Salil Parekh, CEO and MD of Infosys.
  8. "This was achieved through our consistent client focus and investments which have strengthened our client relationships," he added.
  9. In the June quarter, the company signed large deals worth $2.7 billion, according to the filing.
  10. Infosys said attrition stood at 21.5 per cent in the quarter ended June 30, higher than 18.3 per cent in the previous quarter and 20.6 per cent in the year-ago period. Total number of employees rose 0.40 per cent to 2,29,029 in Q1.




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