Infosys Q2 net profit up 12%, revises revenue guidance for FY22 upwards1 min read . Updated: 13 Oct 2021, 11:01 PM IST
- Infosys Q2 result: Consolidated revenue from operations rose 20% to ₹29,602 crore
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IT giant Infosys reported a 12% year-on-year rise in consolidated net profit at ₹5,421 crore for the September quarter. It was ₹4,845 crore in the year-ago period.
On a sequential basis, Infosys profit grew by a marginal 4.3% from ₹5,195 crore in the June quarter.
Its consolidated revenue from operations rose 20% to ₹29,602 crore as against ₹24,570 crore reported in the September quarter of last year.
The company has revised the revenue guidance for FY22 to 16.5%-17.5%, but retained the margin guidance at 22%-24%.
The Board has also approved an interim dividend of ₹15 per equity share.
A Bloomberg estimate pegged Infosys revenue at ₹29,385.70 crore and a net profit of ₹5,277.20 crore.
"Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings. As we witness a strong market opportunity with global enterprises rapidly accelerating their digital journeys, our sustained investments in expanding capabilities, including the differentiated cloud play, Infosys CobaltTM, 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 Salil Parekh, CEO and MD.
“Given this continued momentum we have further increased our revenue growth guidance to 16.5%-17.5%," he added.
The company's revenues in Constant Currency terms grew by 19.4% year-on-year and 6.3% quarter-on-quarter.
In dollar terms, the IT major clocked a revenue of $3.9 billion during the quarter as digital revenues accelerated sharply, growing at 42.4%.
Attrition levels zoomed to 20% in the reporting period as compared to 13.9% in the previous quarter. To address this the company is looking to expand college graduates hiring program to 45,000 this year.
“In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to 45,000 for the year, said Pravin Rao, Chief Operating Officer."
Infosys said large deal signings dropped to $2.15 billion in Q2, from $2.6 billion in the June quarter and $3.15 billion a year earlier.
On Wednesday, Infosys scrip rose 1,43% to settle at ₹1,709.20 on NSE. Since the start of 2021, the shares have gained 35.04%.
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