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22 July, 2018 23:31 IST
Infosys Q2 profit rises 7% q-o-q to Rs 37.26 bn
Source: IRIS | 24 Oct, 2017, 04.07PM
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Infosys, India's second largest software exporter, announced a rise in consolidated net profit for the quarter ended September 2017. During the quarter, the profit of the company rose 3.4% to Rs 37.26 billion from Rs 36.06 billion in the same quarter last year. On sequential basis, the company registered rose of 7% in the net profit.
Revenues for the quarter rose 1.5% to Rs 175.67 billion, compared with Rs 173.10  billion for the prior year period. On sequential basis, the company registered rose of 2.9% in the revenues.

The company's outlook (consolidated) for the fiscal year ending March 31, 2018 revenues are expected to grow 5.5%-6.5% in constant currency; revenues are expected to grow 6.5%-7.5% in USD terms based on the exchange rates as of September 30, 2017.

''We continue to focus on executing on the theme of software enabled services and on accelerating growth of our new services portfolio,'' said U B Pravin Rao, Interim CEO and Managing Director. ''During the quarter, we responded quickly to the management and Board changes through proactive communication with all stakeholders minimizing any negative impact to the business and allowing us to deliver growth across all our large industry units.''

''Our focus on improving operational efficiencies enabled us to deliver stable margins in the quarter and at the same time provide compensation increases and higher variable payouts to our employees,'' said M. D. Ranganath, CFO. ''We have taken several steps during the quarter towards our capital allocation policy covering Rs 130 billion share buyback, coupled with interim dividend of '13 per share for enhancing shareholder returns.''

Shares of the company declined Rs 12.9, or 1.37%, to settle at Rs 926.75. The total volume of shares traded was 445,195 at the BSE (Tuesday).

Infosys Limited   (Q,N,C,F)*

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