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21 March, 2018 12:13 IST
Infosys Q1 profit falls 3.3% q-o-q to Rs 34.83 bn
Source: IRIS | 14 Jul, 2017, 09.33AM
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Infosys, India's second largest software exporter, announced a rise in consolidated net profit for the quarter ended June 2017. During the quarter, the profit of the company rose 1.4% to Rs 34.83 billion from Rs 34.36 billion in the same quarter last year. On sequential basis, the company registered fall of 3.3% in the net profit.

Revenues for the quarter rose 1.8% to Rs 170.78 billion, compared with Rs 167.82 billion for the prior year period. On sequential basis, the company showed a marginally down of 0.2% in the revenues.

Analysts had expected Infosys to report a profit of Rs 34.26 billion on revenue of Rs 170.14 billion.

The company's outlook (consolidated) for the fiscal year ending March 31, 2018 revenues are expected to grow 6.5%-8.5%% in constant currency; revenues are expected to grow 3.0%-5.0% in INR terms based on the exchange rates as of June 30, 2017.

''Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts-revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results. I am encouraged by the uptick in revenue per employee for six quarters in a row, and the strong momentum in our new high growth services and software, as we accelerate our focus on innovation-led growth.'' said Vishal Sikka, CEO. ''The widespread adoption of our grassroots innovation and education initiatives continue to fuel our transformation, and I am proud to see Infoscions embrace and drive Infosys toward becoming a nextgeneration services company.''

''We had broad-based growth across geographical and industry segments. Our initiatives on operational discipline led to record levels of utilization and better realization during the quarter.'' said U B Pravin Rao, COO. ''Our new services and software offerings are helping us strengthen our positioning in the market.''

''Our relentless focus on strong cash generation led to a healthy operating cash flow. Further, our continued emphasis on operational efficiencies enabled us to mitigate the impact of margin headwinds during the quarter,'' said M. D. Ranganath, CFO. ''We successfully navigated yet another quarter of significant currency volatility through our hedging.''

Shares of the company gained Rs 21.35, or 2.19%, to trade at Rs 997.65. The total volume of shares traded was 78,994 at the BSE (9.19 a.m., Friday).

Infosys Limited   (Q,N,C,F)*

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