IT services major Infosys has posted a consolidated net profit of Rs 5,195 crore in the June quarter. The company has also increased its revenue forecast for the current fiscal year.
While Infosys’s net profit was below street estimates, the company posted a 22.7 per cent rise in Q1 net profit, compared to Rs 4,233 crore in the same quarter last year.
The company’s consolidated revenue from operations increased to Rs 27,896 crore, up 6 per cent sequentially. Infosys’s dollar revenue rose 4.7 per cent to $3,782 million compared to $3,613 million on a sequential basis. The operating margin for the quarter stood at 23.7 per cent.
The company has also raised its annual revenue forecast as it has signed large deals worth $2.6 billion during the June quarter. It has added two new clients in the $100 million-plus category and 12 new clients in the $10 million category.
Infosys CEO and MD Salil Parekh said the company has logged the fastest growth in Q1FY22 in a decade. Parekh said he expects revenue growth of 14 per cent to 16 per cent for the current financial year.
“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 per cent quarter-on-quarter in constant currency. This gives us the confidence to increase our revenue growth guidance to 14 per cent-16 per cent,” Parekh said.
The Bengaluru-based company also maintained its margin forecast for FY22 at 22 per cent to 24 per cent. The growth in Infosys’s business was primarily led by the financial services (BFSI) and retail vertical. The life sciences vertical also performed well for the company.
The company also said that it plans to hire 35,000 college graduates for FY22. But the company’s voluntary attrition rate in IT services rose to 13.9 per cent in the June quarter, compared to 10.9 per cent in the March quarter.
Infosys shares closed 2.10 per cent higher on the National Stock Exchange before its Q1 results were announced.
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