INSUBCONTINENT EXCLUSIVE:
Infosys shares closed 1.12% higher at Rs 1,309.10 on the Bombay Stock Exchange (BSE).IT major Infosys posted a net profit of Rs 3,612 crore,
2.1 per cent lower than Rs
3,690 crore in the last quarter, the company said on Friday
However, on a year-on-year basis, the net profit increased by 3.7 per cent as it had reported a net profit of Rs 3,483 crore in the quarter
Analysts, on average, had expected a net profit of Rs 3,740 crore, according to Thomson Reuters data
Infosys' board also approved the issue of one free equity share for every equity share held (1:1 bonus issue).The company has recorded a
reduction in the fair value amounting to Rs 270 crore in respect of the Panaya business.Infosys posted a revenue growth of 5.8 per cent on a
quarter-on-quarter basis and 12 per cent on a year-on-year basis to Rs 19,128 crore for the quarter under review."The strong revenue and
margin performance in this quarter shows that our dual emphasis on Agile Digital and AI (artificial intelligence) -driven Core services is
resonating with our clients", said Salil Parekh, CEO and Mangaing Director of Infosys."With our Agile Digital business growing sequentially
at 8 per cent in constant currency and increase in our large deal wins to over US$ 1 billion, we see good traction in the market."Large deal
wins crossed $1 billion, of which over 40 per cent was from the financial services business, said Infosys
Infosys' earnings per share (EPS) grew by 9.1 per cent on a year-on-year basis
The country's second-biggest software services exporter maintained revenue guidance for the fiscal year ending March 2019 at 6-8 per cent in
The FY 19 operating margin guidance has also been retained at 22-24 per cent.For the financial year ended March 31, 2018, Infosys had
reported an increase of 11.7 per cent in its consolidated net profit at Rs 16,029 crore.Ahead of the June quarter results, Infosys shares
closed 1.12 per cent higher at Rs 1,309.10 on the Bombay Stock Exchange (BSE).Rival Tata Consultancy Services posted a net profit of Rs
7,340 crore in the June quarter.
