Infosys Q1 results 2019: Infy reports 3.7% jump in net profit, misses Street estimates
Infosys Q1 results 2019: Profit for the quarter ended June came in at Rs 3610 crore versus Rs 3483 crore a year ago. Analysts, on average, had expected a net profit of Rs 3740 crore.
Infosys Q1 results 2019: Infosys, country's second largest software services exporter, posted a 3.7 per cent rise in quarterly profit on Friday, below market expectations. Profit for the quarter ended June came in at Rs 3610 crore versus Rs 3483 crore a year ago. Analysts, on average, had expected a net profit of Rs 3740 crore.
The Bengaluru-headquartered company posted a 12 per cent rise in revenue from operations to Rs 19,128 crore. In dollar terms, revenue jumped 6.8 per cent on a yearly basis. Infosys Q1 sales were up 6 per cent in constant currency terms, while operating margins stood at 23.7 per cent, which was at the upper quartile of the guidance.
The IT giant retained its FY19 operating margin guidance at 22-24 per cent, and revenue guidance in constant currency terms at 6-8 per cent.
The company also announced 1:1 bonus issue of equity shares and 1:1 stock dividend of American Depositary Shares.
“The strong revenue and margin performance in this quarter shows that our dual emphasis on Agile Digital and AI-driven Core services is resonating with our clients”, said Salil Parekh, CEO and MD, Infosys.
“With our Agile Digital business growing sequentially at 8% in constant currency and increase in our large deal wins to over US$ 1 billion, we see good traction in the market,” he added.
Infosys Q1 FY19 Results - Management Commentary https://t.co/lhsQzI32bv
— Infosys (@Infosys) July 13, 2018
“Our emphasis on deepening client relationships resulted in strong client metrics including increase in the number of $100 million+ clients to 24”, said U B Pravin Rao, COO, Infosys.
“Utilization excluding trainees reached an all-time high of 85.7%,” he added.