Infosys profit rises 5.8 per cent QoQ on digital growth, new deals in Q2

According to Infosys, the company was able to clinch some major deals during the second quarter and the number of clients rose to 1,364 by the end of Q2, from 1,336 clients in Q1.
Infosys (File Photo | Reuters)
Infosys (File Photo | Reuters)

BENGALURU: Indian IT major Infosys on Friday announced 5.8 per cent quarter-on-quarter rise in its profit, while its income grew 3.8 per cent at Rs 22,629 crore during the July-September quarter (Q2) of the financial year (FY) 2019-20.

The consolidated net profit of the company for Q2FY20 was Rs 4,019 crore in line with the estimates, although it saw 2.2 per cent drop compared to the corresponding quarter last year, when it stood at Rs 4,110 crore.

According to Infosys, the company was able to clinch some major deals during the second quarter and the number of clients rose to 1,364 by the end of Q2, from 1,336 clients in Q1. The IT behemoth said it has signed deals worth USD 2.8 billion during the second quarter.

"Our performance was robust across multiple dimensions — revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition. All these are clear signs that we are progressing well in our journey of client-centricity and maximising value for our stakeholders," said Infosys managing director and chief executive officer Salil Parekh.

The digital, retail and financial segments contributed a major part to the revenues in Q2. Infosys said the revenues from its digital businesses rose to USD 1,230 million (38.3 per cent of total revenues), with a YoY growth of 38.4 per cent, whereas the retail and financial sectors contributed to half of its revenues. "We saw expansion in operating margins during Q2, driven by improvement in operational parameters and cost efficiencies. We took the first step towards implementation of our new capital allocation policy by increasing interim dividend by over 14 per cent," said Nilanjan Roy, CFO.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com