Infosys Q2 net dips 2 pc year-on-year to Rs 4,019 cr

IT services major Infosys said on Friday its consolidated net profit dropped by 2.2 per cent to Rs 4,019 crore for the July to September quarter amid the domestic and global slowdown.

It had recorded a profit of Rs 4,110 crore in the year-ago period. Sequentially, however, the profit moved up 5.8 per cent from Rs 3,798 crore in the April to June quarter.

In constant currency terms, Infosys posted revenue growth of 11.4 per cent year-on-year while in US dollar terms, the numbers grew by 9.9 per cent.

In rupee terms, the revenue totalled Rs 22,629 crore, up 9.8 per cent year-on-year and 3.8 per cent quarter-on-quarter. Operating profit was Rs 4,912 crore, marking a timid growth of 0.4 year-on-year and 9.9 per cent quarter-on-quarter.

The operating margin was 21.7 per cent with basic earning per share at Rs 9.46, virtually flat year-on-year but with a growth of 7.1 per cent quarter-on-quarter. The company also announced an interim dividend of Rs 8 per share.

"Our performance was robust on multiple dimensions -- revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," said Managing Director and CEO Salil Parekh.

"Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance," he said.

"Large deal wins were 2.8 billion dollars. We are especially pleased by the reduction in attrition driven by our focus on the enhanced employee value proposition."

Infosys management revised its full-year constant currency revenue growth guidance to 9 to 10 per cent from 8.5 to 10 per cent earlier.