The revenue growth was broad based across the business verticals, however, supply side challenges and higher travel costs, dented the margins for the company.
Representative image.
India’s second largest IT services provider Infosys Ltd, on July 24 reported a consolidated net profit of Rs 5,360 crore for the first quarter ended June 2022, up 3.2 percent year-on-year from Rs 5,195 crore recorded in Q1FY22. Sequentially, the profit declined 5.7 percent in the said quarter as against a profit of Rs 5,686 crore in Q4FY22.
the IT major’s consolidated revenue stood at Rs 34,470 crore, up 23.6 percent from Rs 27,896 crore achieved during the same quarter of the previous fiscal year. On a quarter-on-quarter (QoQ) basis, the revenues were up 6.8 percent from Rs 32,276 crore registered during the last quarter of FY22.
The revenue growth was broad based across the business verticals, however, supply side challenges and higher travel costs dented the margins for the company.
On Friday, shares of Infosys settled at Rs 1506.30 apiece on the BSE, down 1.73 percent, while the Benchmark Sensex ended 390.28 points or 0.70 percent higher at 56,072.23. The stock has declined 5.3 percent over the past one year but is trading higher by 4.8 percent over the past one month.
(This is a developing story and will be updated shortly)
