Infosys posts 1.3 pc growth in Q1 net profit

14 July, New Delhi

Leading software services provider Infosys today posted a growth of 1.3 per cent in its consolidated net profit at Rs 3,483 crore for the quarter April-June 2017 against Rs 3,436 crore in the same quarter last year.

Similarly, the revenue of the company rose 1.7 per cent to Rs 17,078 crore in the June quarter as against Rs 16,782 crore in the year-ago period, Infosys said in a statement. However, on a sequential basis, it’s net profit declined 3.3 per cent while revenues were down 0.2 per cent in rupee terms.

“Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts, revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results,” Infosys MD and CEO Vishal Sikka said.

He added that he is encouraged by the “uptick in revenue per employee for six quarters in a row”, and the strong momentum in Infosys’ new high growth services and software. Liquid assets, including cash and cash equivalents and investments, were at Rs 39,335 crore as of June 30, 2017.

“We successfully navigated yet another quarter of significant currency volatility through our hedging,” Infosys CFO M D Ranganath said. Its total headcount stood at 1.98 lakh at the end of the quarter.

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