Infosys Ltd, India’s second-largest IT company, reported consolidated second-quarter net profit grew 4.7% from the year-earlier period to ₹6,506 crore.
Revenue for the quarter ended September 30 rose 5.1% to ₹40,986 crore.
In constant currency, the revenue growth was 3.3%. Business wise in constant currency financial services grew 2.3%, retail contracted 9.6%, communications grew 7%, energy, utilities, resources & services grew 10.9%, manufacturing grew 12.3%, hi-tech grew 6%, life sciences shrank 3.5% and others contracted 1.2%.
Geography wise North America degrew 2.7% in constant currency, Europe grew 15.5%, rest of the world grew 3.8% and India business grew by 16%, the company said.
“The growth was broad based with good momentum in financial services. This stems from our strength in industry expertise, market leading capabilities in cloud with Cobalt and generative AI with Topaz, resulting in growing client preference to partner with us”, said Salil Parekh, CEO and MD, Infosys Ltd. in a statement.
“Our large deals at $2.4 billion in Q2 reflect our differentiated position” he added.
The company has enhanced its revenue guidance for FY25. While it has projected revenue growth of 3.75%-4.50% in constant currency, operating margin guidance has been retained at 20%-22%.
“We continue to focus on accelerating revenue growth with a sharp focus on margin performance. Operating margins for the quarter was at 21.1%, driven by continued benefits from value-based pricing and utilization despite higher employee payouts,” Jayesh Sanghrajka, CFO. Infosys said.
“Our focus on cash generation resulted in another quarter of over 100% Free Cash Flow conversion to net profits,” he added.
The Board at its meeting on Thursday announced an interim dividend of ₹21 per share, a 16.7% increase from last year.
Published - October 17, 2024 07:32 pm IST
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