Information technology (IT) major, Infosys, on Wednesday reported an 11.4 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 4,233 crore for the April-June quarter of the financial year 2020-21 (Q1FY21). In the year-ago period, the company had logged a profit of Rs 3,798 crore. Sequentially, the numbers fell 1.45 per cent.
Infosys’ revenue for the quarter under review stood at Rs 23,665 crore, up 8.5 per cent YoY. In constant currency (CC) terms, revenue grew 1.5 per cent YoY. The company signed deals worth $1.74 billion during the quarter. “Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients’ business priorities which is resonating with them in these times. It also demonstrates the remarkable dedication of our employees and leadership during this period”, said Salil Parekh, CEO and MD. “Our confidence and visibility for the rest of the year is improving driven by our Q1 performance and large deal wins,” Parekh added. The company also gave FY21 revenue growth guidance in the range of 0 per cent-2 per cent in constant currency while operating margin for FY21 will be in the range of 21 per cent -23 per cent, the company said in its press release. The company’s digital revenues stood at $1,389 million (44.5 per cent of total revenues), YoY growth of 25.5 per cent in constant currency. Operating profit stood at Rs 5,365 crore, up 20 per cent YoY and 8.9 per cent QoQ. Operating margin came in at 22.7 per cent, an increase of 220 basis points (bps) YoY while basic earnings per share (EPS) was Rs 9.98, growth of 13.1 per cent YoY and decline of 2 per cent QoQ. Free cash flow for the quarter under review came in at Rs 5,524 crore, an increase of 63.5 per cent YoY while voluntary attrition for IT services declined to 11.7 per cent from 20.2 per cent in Q120, the company informed.