Infosys beats estimates, posts over 10% growth in Q2FY19 PAT
Infosys Q2 result: All eyes were on Indian IT-giant Infosys and it did not fail to surprise pleasantly. Infy revealed today that it has posted a strong September 2018 quarter ended (Q2FY19) result by beating analysts estimates. Infosys posted a consolidated net profit of Rs 4,110 crore in Q2FY19, which was up by 10.30% from Rs 3,726 crore in the corresponding period of the previous year. The company's latest PAT recorded a growth of 13.78% as against Rs 3,612 crore in the preceding quarter. A Bloomberg poll of analysts predicted Infosys PAT to come in at Rs 4,048 crore this quarter.
On the other hand, Infosys consolidated revenue came in at Rs 20,609 crore, registering growth of 17.32% from Rs 17,567 crore a year ago same period. Whereas, Q2FY19 revenue rose by 7.74% versus Rs 19,128 crore witnessed in Q1FY19.
Q2FY19 revenues grew year-on-year by 7.1% in USD terms; 8.1% in constant currency terms. Digital revenues at $905 million (31.0% of total revenues), year-on-year growth of 33.5% and sequential growth of 13.5% in constant currency terms.
Infosys has also declared an interim dividend of Rs 7 per share.
Salil Parekh, CEO and MD said, "We are delighted with our broad-based growth across all business segments and geographies during the quarter. This is a testimony to our strong client relationships, digital led full service capabilities, and intense focus on the needs of our clients."
Parekh added, "Large deal wins at over $2 billion during the quarter demonstrate our increased client relevance and also give us better growth visibility for the near-term.”
For half year end of FY19, Infosys revenue stood at Rs 39,737 crore with growth of 14.7% YoY. While net profit was at Rs 7,721 crore increasing by 7.1% YoY.
The Company has allotted 2,18,41,91,490 fully paid up equity shares of face value Rs 5/- each during the three months ended September 30, 2018 pursuant to a bonus issue approved by the shareholders through postal ballot. The bonus shares have been issued to celebrate 25th year of public listing in India and to further increase the liquidity of its shares.