Infosys Posts 6% Rise In Second Quarter Profit, Raises Revenue Guidance

Infosys Posts 6% Rise In Second Quarter Profit, Raises Revenue Guidance

Infosys, the country's second largest software services company, reported net profit of Rs 4,019 crore in the quarter ended September 2019. That marked an increase of 5.8 per cent in its net profit from Rs 3,798 crore in the previous quarter. Infosys' revenue from operations rose 3.78 per cent to Rs 22,629 crore versus Rs 21,803 crore in the previous quarter. The company clocked double digit growth for the fourth consecutive quarter, coupled with 1.2 per cent operating margin expansion in the second quarter, Infosys said in a press release.

"Our performance was robust on multiple dimensions - revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition", Salil Parekh, CEO and MD of Infosys said upon the company's performance in second quarter of current financial year.

"All these are clear signs that we are progressing well in our journey of client-centricity and maximizing value for our stakeholders," Mr Parekh added.

During the quarter Infosys signed large deals worth $2.8 billion and its revenue in dollar terms rose 2.5 per cent and 3.3 per cent in constant currency terms sequentially to $3,210 million.

Infosys' revenue from digital services came in at $1,230 million which was 38.3 per cent of the total revenue of the company.

The company raised the lower end of its revenue guidance at 9 per cent to 10 per cent in constant currency terms and also maintained its operating profit margin guidance in the range of 21 per cent to 23 per cent.

"Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance", said Pravin Rao, COO of Infosys.

"Large deal wins were $2.8 billion. We are especially pleased by the reduction in attrition driven by our focus on enhanced employee value proposition," Mr Rao added.

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