Infosys net rises 3.1% in June qtr, raises revenue guidance for fiscal

Overall expenses surged more than 29%, while operating margins for Infosys for the June quarter came in at 20.1%, down 3.6% year-on-year. The company also retained its operating margin guidance for full year at 21%-23%.

Infosys Ltd, India’s second largest IT services provider, has reported a consolidated net profit of Rs 5,360 crore for the first quarter ended June 2022, up 3.17 per cent year-on-year from Rs 5,195 crore recorded in the same period a year ago.

Sequentially, the profit declined 5.7 per cent in the said quarter as against a profit of Rs 5,686 crore in the March 2022 quarter.

The company’s consolidated revenue stood at Rs 34,470 crore, up 23.6 per cent from Rs 27,896 crore achieved during the same quarter of the previous fiscal year. On a quarter-on-quarter (QoQ) basis, revenues were up 6.8 per cent from Rs 32,276 crore registered during the last quarter of FY22.

“Year-on-year growth was in double digits across all business segments in constant currency terms. Digital accounted for 61 per cent of overall revenues, growing at 37.5 per cent in constant currency,” Infosys said. Net hiring was strong at 21,171. Operating margin for the quarter was 20.1 per cent, with Free Cash Flow conversion at 95.2 per cent of net profit, it said.

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