Infosys Beats Estimates In June Quarter With Rs 3,802 Crore Profit
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- "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.
- "This was achieved through our consistent client focus and investments which have strengthened our client relationships," he added.
- In the June quarter, the company signed large deals worth $2.7 billion, according to the filing.
- 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.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
