Information technology (IT) major Infosys
on Wednesday reported a 22.7 per cent year-on-year (YoY) jump in June 2021 (Q1FY22) consolidated profit at Rs 5,195 crore, over Rs 4,233 crore posted in corresponding quarter year-ago. Sequentially, the figure grew 2.3 per cent as against Rs 5,076 crore.
The company's Q1 consolidated revenue came in at Rs 27,896 crore, up 17.87 per cent YoY, as against Rs 23,665 crore posted in the June quarter of FY21. The topline grew 6 per cent on a quarter-on-quarter basis, compared with Rs 26,311 crore reported in the preceding quarter.
The figure missed analysts' expectations as analysts had pegged bottom line growth at 27-30 per cent. Earlier, the revenue guidance for FY22 stood at 13-15 per cent.
“Driven by the dedication of our employees and the trust of our clients, we grew at the fastest pace in Q1 in a decade, at 16.9 per cent year-on-year and 4.8% quarter-on-quarter in constant currency. I am proud of our employees, who as ‘One Infosys’ demonstrate resilience and commitment in delivering for our clients. This gives us confidence to increase our revenue growth guidance to 14%-16 per cent," said Salil Parekh, CEO and MD.
EBIT margin for the quarter stood at 23.7 per cent as against 22.7 per cent a year-ago. On QoQ basis, it declined 0.8 per cent from 24.5 per cent reported in the preceding quarter.
“We remain confident of delivering on the margin guidance, underpinned by our comprehensive cost optimization program, despite increasing cost headwinds arising largely from compensation review, talent acquisition and retention," said Nilanjan Roy, Chief Financial Officer.
Dollar revenue for the June quarter grew 21.2 per cent YoY and 4.7 per cent QoQ to $3,782 million, the company said in a release to the exchanges. Revenue growth in Constant Currency (CC) terms stood at 16.9 per cent YoY and 4.8 per cent QoQ.
Large deal flows remained strong with TCV of $2.6 billion in Q1, the company added.
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