Infosys Q2 results: Net profit up 11.9% to Rs 5421 crore
At today's meeting, the company's board of directors also approved an interim dividend of Rs 15 per share.
Infosys reported a 4.3% increase in its consolidated net profit for the quarter ended September, at Rs 5,421 crore, exceeding analysts’ forecasts. For the reported quarter, the business recorded a 6.1% quarter-on-quarter increase in consolidated revenues to Rs 29,602 crore, beating the Street’s estimate.
At today’s meeting, the company’s board of directors also approved an interim dividend of Rs 15 per share.
In a press statement, Infosys CEO Salil Parekh remarked, “Our excellent performance and healthy growth prospects continue to highlight our strategic focus and the power of our digital products.”
According to Parekh, the business’s ongoing momentum has given Infosys the confidence to lift its revenue growth projection for 2021-22 to 16.5-17.5 percent, up from 14-16 percent previously. The company’s boost in outlook is greater than analysts had anticipated.
Infosys, on the other hand, kept its 2021-22 consolidated operating margin guidance at 22-24%.
The fact that Infosys managed to raise its topline by 6.3% in constant currency terms, bolstered by a 42.4% year-on-year increase in digital services revenue, demonstrates the company’s confidence.
In the reporting quarter, the company won $2.15 billion in deals, indicating that client expenditure on digital transformation remained high.
On the operational level, the company’s consolidated operating margin fell 10 basis points sequentially to 23.6 percent, which was still within the company’s planned band.
Wage rises were implemented to retain people, but those efforts were largely futile, as the attrition rate increased to 20.1 percent from 13.9 percent in the preceding quarter.