India’s 2nd largest Information Technology company Infosys announced Q1 results today and reported an 11.4% growth in its consolidated net profit.
Key highlights of the Infosys Quarterly results:
- Net profit declined 2% to Rs.4233 crore.
- Revenue from operations rose 1.7% from Rs.23267 crore Rs.23665 crore.
- Comparing the net profit to last year’s quarter rose 11.4% from Rs.3798 crore.
- Despite the COVID pandemic, Infosys signed deals worth $1.74 billion.
- Salil Parekh CEO and managing director said, “Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients’ business priorities, which resonate with them in these times. It also demonstrates the remarkable dedication of our employees and leadership during this period,”
- Pravin Rao, COO, said, “During the last few months, we took multiple steps aimed at employee safety and well-being while providing seamless services to our clients. Clients have recognized us for the speed, security, and effectiveness of our remote enablement efforts.”
- Nilanjan Roy, CFO, said, “Operating margin expanded to 22.7 percent driven by the preemptive deployment of our strategic cost levers and tactical opportunities triggered by the COVID situation.”