Infosys Q1 results 2019 Live: IT giant reports net profit at Rs 3,610 crore, declares bonus
Infosys, country's second largest software services firm reported 3.7 per cent growth in consolidated net profit at Rs 3,612 crore for the quarter ended on June 30, 2018, compared to a net profit of Rs 3,483 crore in the year-ago period. Revenues from operations of the Bengaluru-based firm grew 12 per cent to Rs 19,128 crore in the April-June quarter compared to Rs 17,078 crore in the year-ago period. Infosys board has approved issuance of one free share for every share held (that is a 1:1 bonus issue).
Infosys' scorecard came just days after India's largest software exporter TCS posting a 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for June quarter, delivering what analysts said were street-beating results. The Tata Group company saw its income from operations growing at 15.8 per cent to Rs 34,261 crore for the first three months of the current financial year, registering strong growth on all counts.
Infosys, country's second largest software services firm reported 3.7 per cent growth in consolidated net profit at Rs 3,612 crore for the quarter ended on June 30, 2018, compared to a net profit of Rs 3,483 crore in the year-ago period. Revenues from operations of the Bengaluru-based firm grew 12 per cent to Rs 19,128 crore in the April-June quarter compared to Rs 17,078 crore in the year-ago period. Infosys board has approved issuance of one free share for every share held (that is a 1:1 bonus issue).
Infosys' scorecard came just days after India's largest software exporter TCS posting a 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for June quarter, delivering what analysts said were street-beating results. The Tata Group company saw its income from operations growing at 15.8 per cent to Rs 34,261 crore for the first three months of the current financial year, registering strong growth on all counts.
Latest Updates
Infosys Q1 results 2019: Free cash flow of the IT giant was up sequentially by 32.1 per cent in US dollar terms.
Infosys Q1FY19: FY19 revenue guidance in constant currency retained at 6-8 per cent.
Infosys Q1FY19 results: FY19 operating margin guidance retained at 22-24 per cent
Infosys Q1 FY19 Results: Watch Management Commentary Live
Infosys Q1 FY19 Results - Management Commentary https://t.co/lhsQzI32bv
— Infosys (@Infosys) July 13, 2018
U B Pravin Rao, COO, Infosys: Our emphasis on deepening client relationships resulted in strong client metrics including increase in the number of $100 million+ clients to 24. Utilization excluding trainees reached an all-time high of 85.7%.
Salil Parekh, CEO and MD, Infosys: The strong revenue and margin performance in this quarter shows that our dual emphasis on Agile Digital and AI-driven Core services is resonating with our clients. With our Agile Digital business growing sequentially at 8% in constant currency and increase in our large deal wins to over US$ 1 billion, we see good traction in the market.
Infosys bonus issuance: Infosys Board approves issuance of one free share for every share held (1:1 bonus issue).
Infosys revenue guidance maintained: FY19 revenue guidance in constant currency retained at 6%-8%; FY 19 operating margin guidance retained at 22%-24%
Infosys Q1 net profit 2019: Consolidated net profit came in at Rs 3,610 crore for the June quarter, including impact of Rs 270 crore on account of reduction in the fair value of assets held for sale YoY growth of 3.7 per cent; QoQ decline of 2.1 per cent.
Infosys share price settles over 1 per cent higher at Rs 1,309 ahead of Q1FY19 results
Source: BSE
WATCH VIDEO: Infosys Q1FY19 results today; What to watch out for
The IT giant is expected to report 6.4 per cent annual growth in profit after tax and a marginal jump of 0.50 per cent in sequential terms. Besides, experts believe management will maintain status quo in its revenue guidance.
Infosys Q1FY19 results: Key factors to watch out for
- Progress on digital business and outlook on key verticals
- Commentary around margins in lieu of the new investments
- Attrition at key positions
- Update on internal stability and strategy under new leadership
Emkay Global on Infosys Q1FY19 results: We expect CC growth of 2.0% qoq and ~100bps cross currency headwind, leading to 1.0%/4.9% qoq growth in USD/INR terms. While INR depreciation will provide some cushion to margins, we still expect ~150bps qoq drop in OPM on account of wage hikes, visa costs amid plans to increase investment in building Digital & Sales capabilities and staff training. We expect adjusted net profit to grow by 0.6% qoq due to the absence of one-time loss related to the impairment of Panaya and Skava in Q4FY18. Key aspects to focus on: (1) Any revisions to revenue growth and margin band guidance (2) Large deal TCV number as this is key to near term growth.
Infosys shares soar ahead of Q1 results, still 2% away from lifetime high
Infosys share price rallied nearly 3 per cent on Friday ahead of its June quarter results for FY19 due later in the day post market hours. The stock gained as much as 2.83 per cent to Rs 1331.35 on the BSE. It was the top gainer on Sensex and Nifty.
Decline in margin expected, says Reliance Securities
Infosys is likely to report margin decline of 185bps QoQ, led by wage hikes. Outlook for key verticals including BFSI, retail and telecommunications, improving FY19E outlook, deal flows and rising deal sizes of new digital deals are critical data points to watch.