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Infosys Q1 net profit falls marginally to Rs 3,612 crore

BusinessToday.In     July 13, 2018

India's second largest IT services firm Infosys on Friday announced its Q1 results for FY19. The company posted a net profit of Rs 3,612 crore for the quarter ended June 30, 2018. Infosys had reported a net profit of Rs 3,690 crore for the quarter ended March 31, 2018.

The IT major reported revenues of Rs 19,128 crore for the first quarter of FY19, posting a YoY growth of 6.8 per cent; QoQ growth of 0.9 per cent. Infosys board also approved a bonus issue of one equity share for every equity share held. The Infosys stock closed at Rs 1,309.10, up 1.12 per cent on the BSE. Intra-day, it gained 2.83 per cent to Rs 1,331.35.

"The strong revenue and margin performance in this quarter shows that our dual emphasis on Agile Digital and AI-driven Core services is resonating with our clients", said Salil Parekh, CEO and MD. "With our Agile Digital business growing sequentially at 8% in constant currency and increase in our large deal wins to over US$ 1 billion, we see good traction in the market."

"Our emphasis on deepening client relationships resulted in strong client metrics including increase in the number of $100 million+ clients to 24", said U B Pravin Rao, COO. "Utilization excluding trainees reached an all-time high of 85.7%."

"We had broad-based financial performance on multiple fronts - RoE crossed 25%, Free cash flow was up 32% quarter on quarter and operating margins were at the upper quartile of our margin guidance", said M.D. Ranganath, CFO. "While we continue to make strategic investments to leverage the opportunities in Digital, our relentless focus on operational efficiencies continued in this quarter."

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