Infosys Q1 net profit up 12 per cent at Rs 4,233 crore
Jul 15, 2020
Bengaluru (Karnataka) [India], July 15 : Bluechip digital transformation major Infosys on Wednesday posted 11.5 per cent year-on-year growth in its net profit at Rs 4,233 crore for the quarter ended June 30 as compared to Rs 3,798 crore in the corresponding quarter last year.
Sequentially, however, the numbers fell 1.45 per cent. Infosys' revenue for Q1 FY21 stood at Rs 23,665 crore, up 8.5 per cent year-on-year. In constant currency terms, revenue grew by 1.5 per cent.
Consolidated revenue increased 8.5 per cent to Rs 23,665 crore over Rs 21,803 crore in Q1 FY21. The company signed deals worth USD 1.74 billion during the quarter.
"Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients' business priorities, which is resonating with them in these times," said CEO and Managing Director Salil Parekh.
"It also demonstrates the remarkable dedication of our employees and leadership during this period. Our confidence and visibility for the rest of the year is improving driven by our Q1 performance and large deal wins," he added.
Digital revenues were at USD 1.39 billion (44.5 per cent of total revenues), marking a year-on-year growth of 25.5 per cent in constant currency. Free cash flow stood at Rs 5,524 crore with a year-on-year growth of 63.5 per cent.
The company also gave FY21 revenue growth guidance in the range of 0 to two per cent in constant currency while operating margin for FY21 will be in the range of 21 to 23 per cent, according to an official statement.
Infosys also announced strategic partnership with Vanguard, which will deliver a technology-driven approach to plan administration and fundamentally re-shape the corporate retirement plan experience for its sponsors and participants.
Meanwhile, company appointed Bobby Parikh as an Independent Director.
