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.Also Read - Major Indian IT Firms Plan To Hire 450,000 Employees In 2nd Half of FY22 With Focus On Skill Building
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. Also Read - Mega Hiring! TCS, Infosys, Wipro, IT Companies Likely To Recruit Over 1 Lakh Freshers This Year
“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.” Also Read - Work From Home to End Soon: List of Companies That Are Asking Employees to Come Back to Office
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