Infosys Consolidated Net Profit Declines by 2.1 Per Cent to Rs 3,612 Crore in June; Bonus Issue of 1:1

“The strong revenue and margin performance in this quarter show that our dual emphasis on Agile Digital and AI-driven Core services is resonating with our clients”, said Salil Parekh, CEO and MD.

Updated: July 13, 2018 5:23 PM IST

By India.com Business Desk

Infosys

Infosys reported a 2.1 per cent decline in net profit at Rs 3,612 crore in the June quarter as compared to the March quarter but it jumped by 3.7 per cent when compared to the year-ago period. Revenue from operations surged by 12 per cent to Rs 19,128 crore on a year-on-year basis and 5.8 per cent on a sequential basis. Infosys board has also approved 1:1 bonus, which is the issue of one free equity share for every equity share held.

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There is a reduction in the fair value of Rs 270 crore in respect of the Panaya business. For the financial year 2019, revenue guidance in constant currency remains at 6 per cent to 8 per cent and operating margin guidance at 22 per cent to 24 per cent.

“The strong revenue and margin performance in this quarter show that our dual emphasis on Agile Digital and AI-driven Core services is resonating with our clients”, said Salil Parekh, CEO and MD. “With our Agile Digital business growing sequentially at 8% in constant currency and increase in our large deal wins to over $1 billion, we see good traction in the market.”

Infosys shares gained over 2 per cent ahead of quarterly results.  The company’s share closed at Rs 1,309.10, up 1.12 per cent on the Bombay Stock Exchange. During the day it jumped 2.83 per cent to Rs 1,331.35. The company announced its quarterly results after the market closed today. On the NSE, shares of the company went up by 2.21 per cent to close at Rs 1,323.

The company’s market capitalisation also moved up by Rs 3,167.08 crore to Rs 2,85,924.08 crore.

In terms of equity volume, 11.06 lakh shares of the company were traded on the BSE and over 97 lakh shares changed hands on the NSE during the day

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Published Date: July 13, 2018 4:39 PM IST

Updated Date: July 13, 2018 5:23 PM IST