Infosys gains after decent Q2 earnings

Shares of Infosys were up 1.94% at Rs 709.90 at 10:47 IST on BSE.

IT major Infosys announced its consolidated results under International Financial Reporting Standards (IFRS) after market hours yesterday, 16 October 2018. On a consolidated basis, Infosys' net profit rose 13.8% to Rs 4110 crore on 7.7% increase in revenues to Rs 20609 crore in Q2 September 2018 over Q1 June 2018.

FY2019 revenue guidance in constant currency was retained at 6%-8% and operating margin guidance was retained at 22%-24%.

"We are delighted with our broad-based growth across all business segments and geographies during the quarter. This is a testimony to our strong client relationships, digital led full service capabilities, and intense focus on the needs of our clients", said Salil Parekh, CEO and MD. "Large deal wins at over $2 billion during the quarter demonstrate our increased client relevance and also give us better growth visibility for the near-term", he added.

"We had another quarter of solid operating parameters with utilization being stable and offshore mix improving to all-time high", said U B Pravin Rao, COO. "Our Digital services grew double digits sequentially, while growth in top clients was also robust", he added.

"Our unwavering focus on strong financial performance on multiple fronts continued to deliver results during the quarter. Operating margins for the quarter as well as for the half year was at 23.7%, near the top end of our guidance band", said M.D. Ranganath, CFO. "Operating Cash Flow was over $1 billion during the first half of the year and ROE was at 24.7%. We will continue to make strategic investments in digital to leverage opportunities and at the same time keep sharp focus on key operational efficiency parameters", he added.

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