Infosys Q1 Net Profit Rises 5%; Stock Closes Up 11%
Infosys posted Rs 3,030 cr ($475.85 million) in net profit in the June quarter.
IT services provider Infosys on Tuesday said a business revamp initiated by its first non-founder boss helped it win more large deals in the first quarter, fuelling a 5 percent rise in net profit, reported Reuters.
The company has also said that it kept its rupee-denominated revenue growth view for the business year through March at a range of 10 percent to 12 percent. But it raised its outlook in dollar terms to 7.2 percent to 9.2 percent, from 6.2 percent to 8.2 percent.
For April-June, Infosys said order growth rose 5.4 percent from three months prior, the most in nearly five years. That was bolstered by a surge in demand in the United States, its biggest market, where the company is also listed.
Infosys, which provides IT services to firms such as Apple Inc, Volkswagen AG and Wal-mart Stores Inc, posted Rs 3,030 cr ($475.85 million) in net profit in the quarter.
Revenue rose 12.4 percent to Rs 14, 354 cr. The company added 79 new clients in the quarter taking the total to 987 at the end of June quarter.
Staff attrition, or the number of employees leaving or retiring, was 14.2 percent, from 23.4 percent a year earlier.
Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.