Infosys Q1 results: Net profit jumps 7.1 pc to Rs 6,368 crore
Jul 18, 2024
New Delhi [India], July 18 : IT services major Infosys on Thursday reported that its consolidated net profit for the April-June 2024 quarter was 7.1 per cent higher on a yearly basis at Rs 6,368 crore. In the same quarter of 2023, the net profit was Rs 5,945 crore.
The IT services company's revenues during the quarter grew 3.6 per cent to 39,315 crore from Rs 37,933 crore.
The company's Board approved the audited consolidated financial results and its subsidiaries today.
"We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution," said Salil Parekh, CEO and MD, of Infosys.
"With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients," Parekh added.
Jayesh Sanghrajka, CFO, of Infosys, said the company generated the highest ever free cash flow (FCF) generation at USD 1.1 billion and the return on equity (ROE) increased to 33.6 per cent due to higher payouts to investors.
Infosys has completed the acquisition of in-tech, a leading Engineering R&D services provider focused on German automotive industry. This follows the announcement the company made on April 18, 2024. The entire shareholding in in-tech Group India Private Limited, a step-down subsidiary of in-tech Holding GmbH, will be acquired by Infosys Limited.
Infosys had launched Infosys AsterTM - a set of AI-amplified marketing services, solutions and platforms that deliver engaging brand experiences, enhanced marketing efficiency, and accelerated effectiveness for business growth.
With over 300,000 human resources, Infosys enables clients in more than 56 countries.
Infosys had a voluntary attrition of 12.7 per cent in the June quarter against 17.3 per cent in the same quarter last year.
