Infosys net flat annually, down quarterly in Q1

Software major Infosys Ltd on Friday reported Rs 3,483-crore consolidated net profit for the first quarter (Q1) of fiscal 2017-18, registering 1.4 per cent year-on-year (YoY) flat growth from Rs 3,436 crore in the same period year ago but declined 3.3 per cent sequentially from Rs 3,603 crore quarter ago in rupee terms.

In a regulatory filing on the BSE, the IT major said consolidated revenue for the quarter under review (Q1) was flat (1.8 per cent) YoY at Rs 17,078 crore as against Rs 16,782 crore in the like period year ago and subdued (0.2 per cent) sequentially from Rs 17,120 crore quarter ago in rupee terms.

Under the International Financial Reporting Standard (IFRS), Q1 net income was up 5.8 per cent YoY to $541 million from $511 million year ago and flat (0.4 per cent) sequentially from $543 million quarter ago in dollar terms.

Consolidated revenue for Q1, however, was up six per cent YoY to $2,651 million from $2,501 million and 3.2 per cent up from $2,569 million quarter ago in dollar terms.

Operating profit too, was flat (1.6 per cent) YoY at Rs 4,111 crore as against Rs 4,047 crore and down 2.4 per cent sequentially from Rs 4,212 crore quarter ago in rupee terms.

In dollar terms under the IFRS, operating profit grew six per cent YoY to $638 million for Q1 from $602 million year ago and was flat sequentially from $634 million quarter ago.

--IANS

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