Infosys Profit Rises To Rs 5,421 Crore In Q2, Revenue Guidance Raised On Higher Demand

Infosys Q2 Earnings: The software services company's annual revenue forecast or revenue guidance to16.5-17.5 per cent for the current fiscal, from 14 per cent - 16 per cent predicted earlier

Infosys Profit Rises To Rs 5,421 Crore In Q2, Revenue Guidance Raised On Higher Demand

Infosys Q2 Results: The company's net profit stood at ₹ 5,421 crore in September quarter

Infosys announced its July-September quarter results for the financial year 2021-22 on Wednesday, October 13, reporting a net profit of Rs 5,421 crore, up 11.88 per cent year-on-year, on a consolidated basis. The country's second-largest information technology (IT) services provider by market value, raised its annual revenue guidance as pandemic-led digital services demand helped the company in securing large deals from global businesses looking to expand their digital offerings.

Here's all you need to know about Infosys' July-September quarter results:

  1. The Bengaluru-based IT services company's net profit in the second quarter of the current fiscal rose 11.88 per cent to ₹ 5,421 crore, compared to ₹ 4,845 crore in the corresponding quarter in the year-ago period. 

  2. The company's revenue from operations in the September quarter stood at Rs 29,602 crore on a consolidated basis, compared to Rs 24,570 crore, marking a growth of 20.48 per cent year-on-year.

  3. Infosys raised its annual revenue forecast or revenue guidance to 16.5-17.5 percent for the current financial year, compared to 14 per cent - 16 per cent predicted earlier, while its margin guidance was retained between 22-24 per cent. 

  4. Infosys completed the open market share buyback on September 8 at an average price of around Rs 1,649 per share (compared to maximum buyback price of Rs 1,750 per share), and the share capital has reduced by 1.31 per cent. The board approved an interim dividend of Rs 15 per equity share at its meeting today.

  5. The company also registered deal wins worth $2.15 billion in the July-September quarter as it secured contracts from global businesses willing to expand their digital services amid the pandemic. Its revenue from digital business came in at 56.1 per cent of total revenues.

  6. ''....our sustained investments in expanding capabilities, including the differentiated cloud play,... has uniquely positioned us to continue serving our clients effectively, gain market share and emerge as the preferred cloud and digital transformation partner in the market,'' said Mr Salil Parekh, CEO and MD, Infosys. 

  7.  Mr Parekh said the new Income Tax portal developed by his company is seeing “steady progress” and that 1.9 crore income tax returns have been filed through it already. 

  8. In the previous April-July quarter of the current fiscal, Wipro reported a net profit of Rs 5,195 crore and grew at the fastest pace in the first quarter in a decade - at 16.9 per cent year-on-year and 4.8 per cent quarter-on-quarter in constant currency. 

  9. On Wednesday, October 13, shares of Infosys settled 1.42 per cent higher at Rs 1,708.75 apiece on the BSE.