Infosys Q2 net down 2.2% at Rs4,019 crore
11 Oct 2019
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Infosys, India’s second-largest software services provider, today reported a 2.2 per cent year-on-year decline in its net profit for the fiscal second quarter ended 30 September 2019 at Rs4,019 crore.
The company had posted a net profit of Rs4,110 crore in the corresponding quarter of the previous fiscal.
Revenues for the quarter stood at Rs22,629 crore, showing a 19.1 per cent increase compared to Rs20,609 crore in the same period last year.
The company declared an interim dividend of Rs8 per share.
During the September quarter, Infosys added 7,457 employees to take its overall headcount to about 2.36 lakh. Its annualised consolidated attrition was lower at 21.7 per cent during the quarter against 23.4 per cent in the previous (April-June) quarter.
Infosys expects its revenue to grow at 3.3 per cent in constant currency for fiscal 2020. The company maintained revenue growth forecast of 9-10 per cent (constant currency) range for fiscal FY20.
"Our performance was robust on multiple dimensions – revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," said Salil Parekh, chief executive officer and managing director. "All these are clear signs that we are progressing well in our journey of client-centricity and maximising value for our stakeholders," he added.
"Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance. Large deal wins were $2.8 billion. We are especially pleased by the reduction in attrition driven by our focus on the enhanced employee value proposition," said Pravin Rao, chief operating officer.
"We saw expansion in operating margins during the quarter driven by improvement in operational parameters and cost efficiencies”, said Nilanjan Roy, CFO, said, "We took the first step towards the implementation of our new capital allocation policy by increasing interim dividend by over 14 percent compared to FY19.”
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