BENGALURU: The country's second-largest IT services company, Infosys, on Thursday beat street estimates and posted a 7% increase in its consolidated net profit for the June quarter at Rs 6,368 crore.
In the same quarter last year, Infosys posted Rs 5,945. Its revenues in the June quarter stood at Rs 39,315 crore, up 3.6% compared to Rs 37,933 crore in the year-ago period. Its operating margin was at 21.1%, growth of 0.3% y-o-y.
The company has raised its FY25 revenue growth guidance to 3%-4% in constant currency from 1%-3%.
“We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation," said Salil Parekh, CEO and MD.
“With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities," he added.
The IT services company has completed the acquisition of in-tech, a leading engineering R&D services provider focused on the German automotive industry. This follows the announcement the company made on April 18, 2024.
“Our relentless drive on cost optimization through Project Maximus, a comprehensive margin expansion program, is reflected in the all-around improvement in key operating metrics leading to 1.0% growth in operating margin in Q1," said Jayesh Sanghrajka, CFO.
The company's headcount declined by 1,908 in the June quarter. The total headcount by the end of June 2024 stood at 3,15,332, compared to 3,36,294.
The company's voluntary attrition rate was at 12.7% in the June quarter.