You are here: Home » News-ANI » Business
Business Standard

Infosys profit up 5.3 pc to Rs 3,802 crore in Q1 FY20

ANI 

IT services major Infosys said on Friday its profit during the first quarter (April to June) of 2019-20 rose 5.3 per cent to Rs 3,802 crore from Rs 3,612 crore in the same period of the previous year.

However, profit for the quarter was down 6.8 per cent sequentially from Rs 4,078 crore in January to March.

However, revenue in rupee terms grew by 1.2 per cent quarter-on-quarter to Rs 21,803 crore, the company said in a statement. It raised its full-year constant currency revenue guidance to 8.5 to 10 per cent.

Dollar revenue showed a 2.3 per cent sequential growth at 3.13 billion dollars and constant currency revenue growth came in line with industry estimates at 2.8 per cent.

Consequently, Infosys increased its FY 20 revenue growth guidance range to 8.5 to 10 per cent in constant currency from 7.5 to 9.5 per cent earlier and maintained operating margin guidance range of 21 to 23 per cent.

The company said digital revenue for the quarter at 1.12 billion dollars registered year-on-year growth of 41.9 per cent and sequential growth of 8.6 per cent in constant currency. The large deal total contract value was highest ever at 2.7 billion dollars in the first quarter of the current fiscal.

In terms of geography performance, revenue growth was led by North America and the rest of the world which grew 3 per cent and 2.3 per cent quarter-on-quarter in dollar terms respectively.

Among verticals growth was led by energy and utilities (up 4.7 per cent) and communication vertical (up 4.6 per cent), it said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, July 12 2019. 17:57 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU