BENGALURU: Infosys on Thursday reported a 10.9% increase in its Q1 net profit at Rs 5,945 crore for the June quarter compared to Rs 5,360 crore in the year-ago period. For the first time in recent years, the company has slashed its revenue guidance for this fiscal from 4-7% to 1-3.5% indicating challenging macro headwinds.
The company's revenue for the quarter grew 10% y-o-y at Rs 37,933 crore. Its large deal TCV for the quarter was at $2.3 billion, with net new of 56.1%.
Operating margin for the quarter stood at 20.8%.
“We had a solid Q1 with a growth of 4.2% and large deals of $2.3 billion which helps us to set a strong foundation for future growth. Our generative AI capabilities are expanding well, with 80 active client projects. Topaz, our comprehensive AI offering, is resonating well with clients. We see this being transformative for clients and enhancing our overall service portfolio” said Salil Parekh, CEO and MD.
The company has also expanded the margin improvement program. Its headcount for the quarter was reduced by 6,940 employees. Its attrition declined further to 17.3% in the first quarter.