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Infosys to announce Q2 FY20 results on October 11

BusinessToday.In     October 9, 2019

Tech major Infosys will announce its second quarterly (July-September 2019) results for FY20 on October 11 (Friday) around afternoon (3:45 pm). The country's second-largest software exporter had reported a rise in it's quarter 1 (Q1) profit for the month ended June 30, 2019.

Infosys clocked a 5.3% year-on-year growth in its consolidated net profit at Rs 3,802 crore for Q1 (April-June 2019). The consolidated net profit of the Bengaluru-based technology firm stood at Rs 3,612 crore in the same quarter last year, Infosys had said in a Bombay Stock Exchange (BSE) filling.

Also Read: Infosys Q1 net profit rises 5% to Rs 3,802 crore; raises FY20 revenue guidance range to 8.5-10%

Consolidated total revenue of IT major rose by 14 per cent to Rs 21,803 crore during the June quarter of 2019-20, as compared to Rs 19,128 crore in the same period of 2018-19.

Infosys operating profit, however, decreased marginally by 1.5 per cent to Rs 4,471 crore in Q1FY20 versus Rs 4,537 in Q1FY19. The operating margin declined by 3.2 per cent to 20.5 per cent as compared to 23.7 per cent in the year-ago period.

Also Read: Infosys aims to earn 50% revenue from digital business; eyeing new deals worth $6 billion in FY20, says Salil Parekh

In dollar terms, Infosys reported a net profit of $546 million in Q1, up 2.2 per cent year-on-year, while revenue grew by 10 per cent y-o-y to $3,131 million. Digital revenues grew by 39.3 per cent to $1,119 million (35.7 per cent of total revenues) in the April-June quarter.

Infosys's attrition rate, however, rose to 23.4 in the June quarter versus 23 per cent in the year-ago quarter. As of June 30, 2019, the total employee strength of the company was 2,29,029.

Also Read: Why Infosys, Tech Mahindra, TCS, Wipro and other IT sector stocks fell amid the greatest bull run of Indian market

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