Infosys Q1 Results: Infosys, the country’s second largest IT company, released the results of the current financial year quarter on Wednesday 23 July. The company stated that its consolidated net profit increased by 8.7% to Rs 6,921 crore in the June quarter, which is better than the market expectations. Revenue also recorded an annual growth of 7.5% and reached Rs 42,279 crore.
In Bloomberg’s pole, analysts had estimated Infosys’s profit in June Timbi to be Rs 6,778 crore and revenue of Rs 41,724 crore. Infosys has presented better results from this estimate. It indicates the growing confidence and stability in demand of management. However, the operating margin has been kept in the range of 20–22% by the company.
Earnings and margin details
– The operating margin was 20.8%, which is slightly less than 21.1% of the same quarter of last year.
– Eating per share (EPS) increased by 8.6% to Rs 16.70.
– Free cash flow stood at Rs 7,533 crore, which is 17.7% less on an annual basis, but it is 108.8% of NET profit.
– Cash and investments were Rs 45,204 crore at the end of the June quarter.
Big deals and business expansion
The company signed a $ 3.8 billion deals during the quarter, of which 55% of the deals were pure. CEO Salil Parekh said the performance shows “our enterprise AI capabilities, success in client consolidation and commitment of more than 3 lakh employees”.
At the same time, the company’s CFO Jayesh Sangharjka said, “The performance of the June quarter is a proof of strategy and strong examination on our multiple fronts, giving us an annual growth of 8.6% in quarter growth, steady margin and EPS.”
Meanwhile, the company’s shares fell 0.76 per cent on NSE at Rs 1,558.90 on July 23 today. So far this year, the company’s shares have fallen by about 17.19 percent.