Infosys Q1 results: Net profit rises 2% QoQ to Rs 5,195 cr, misses estimates; firm signs large deals worth $2.6 bn

MUMBAI: today reported a 2.3 per cent sequential rise in consolidated net profit to Rs 5,195 crore for the quarter ended June, which was below analysts’ estimates.

The company’s consolidated revenue from operations climbed 6 per cent sequentially to Rs 27,896 crore for the reported quarter, which was slightly ahead of Street’s estimates.

The company said it signed large deals worth $2.6 billion during the quarter ended June.

The company added two new clients in the $100 million plus category and 12 new clients in the $10 million plus bracket as compared to the previous quarter.

The information technology giant reported a constant currency revenue growth of 4.8 per cent on-quarter and 16.9 per cent year-on-year. The digital services business continued to post robust performance as it grew nearly 10 per cent sequentially to $2 billion in the June quarter.

The growth in the business of the Bengaluru-based company was led by the financial services and retail vertical, which grew over 22 per cent on-year in constant currency terms. Besides BFSI and retail, the life sciences vertical also clocked over 21 per cent on-year growth in the June quarter.

In terms of geographies, North America led the surge with growth of 21.1 per cent on-year followed by India where sales climbed 20.7 per cent. In Europe, the company’s sales rose 12.2 per cent on-year on a constant currency basis.

….More to come

Source Link