Infosys Q1 Highlights: Tech major logs Rs 3,612 cr net profit

Salil Parekh, CEO and MD said, “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”. He added, “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 Q1 Highlights: Tech major logs Rs 3,612 cr net profit
Infosys, India’s second biggest IT services exporter, announces its June quarter earnings today. Image source: Reuters
By ZeeBiz WebTeam
Updated: Fri, Jul 13, 2018
04:26 pm
New Delhi, ZeeBiz WebDesk
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Infosys, India’s second biggest IT services exporter, announces its June quarter earnings today. The technology firm's Q1 consolidated net profit rises 3.7% to Rs 3,612 crore, and revenue from operations surges 12% to Rs 19,128 crore. Infosys Board approved issuance of one free share for every share held (1:1 bonus issue).

Salil Parekh, CEO and MD said, “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”. He added, “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.” 

Just ahead of the announcement shares of Infosys soared by over 2 per cent to close at Rs 1,309.10, up 1.12 per cent on the BSE. Infosys  market capitalisation moved up by Rs 3,167.08 crore to Rs 2,85,924.08 crore as a result.

Check out Infosys Q1 Highlights: Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended June 30, 2018 

* Revenues were `19,128 crore for the quarter ended June 30, 2018; YoY growth of 12.0%; QoQ growth of 5.8% 

* Net profit was `3,612 crore for the quarter ended June 30, 2018, including impact of `270 crore on account of reduction in the fair value of Assets held for sale; YoY growth of 3.7%; QoQ decline of 2.1% 

* Basic EPS at `16.62 for the quarter ended June 30, 2018, including impact of `1.24 on account of reduction in the fair value of Assets held for sale; YoY growth of 9.1%; QoQ decline of 2.1% 

* Digital revenues at $803 million (28.4% of total revenues), sequential growth of 8.0% and yearon-year growth of 25.6% in constant currency terms 

* 1:1 bonus issue of equity shares and 1:1 stock dividend of American Depositary Shares 

* Q1 19 revenues grew year-on-year by 12.0% in INR terms; 6.0% in constant currency terms 

* Q1 19 revenues grew sequentially by 5.8% in INR terms; 2.3% in constant currency terms 

* Operating margins at 23.7%, at the upper quartile of the guidance  

* Large deal wins crossed $1 billion, of which over 40% was from Financial Services  

* $100 mn clients increased sequentially by 4 to 24 

* Utilization (excluding trainees) at all-time high of 85.7% • Free Cash Flow up sequentially by 32.1% in USD terms • RoE increases to 25.5% as compared to 24.1% last quarter  

* EPS grew by 9.1% on a year-on-year basis 

* FY 19 revenue guidance in constant currency retained at 6%-8%; FY 19 operating margin guidance retained at 22%-24% 

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