Infosys beat market expectations clocks net of Rs 3,483 crore

14 Jul 2017 10:21 AM | General

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Beating the market expectations Bengaluru-based, IT giant Infosys has clocked net profit of Rs 3,483 crore for the quarter ended June 30, 2017, up 1.37% as compared with Rs 3,436 crore for the corresponding quarter last year.

The company had clocked the net profit of Rs 3,603 for the fourth quarter ended March 31, 2017.
The gross profit of the company increased to Rs 6,178 crore, as against Rs 6,101 crore in the corresponding quarter last year. While the revenues of the company jumped by 1.8% to Rs 17,078 crores, from Rs 16,782 crores.

On the geographical front North America (61.1%) has been the biggest contributor to the company’s revenues in the quarter, followed by Europe (22.4%), and India (3.6%).

Based on the client industry vertical, Banking and Financial Services, Insurance (BFSI) was the largest contributor to the revenues with a contribution of 33.3%, followed by Retail and Life Sciences (22.7%), Manufacturing and Hi-Tech (22.2%), and Energy, Utilities, Communications and Services (21.8%), during the quarter.

The earnings per share of the company grew by 1.33%, and stood at Rs 15.23, as against Rs 15.03 in the corresponding quarter last fiscal.

“The widespread adoption of our grassroots innovation and education initiatives continue to fuel our transformation, and I am proud to see Infoscions embrace and drive Infosys toward becoming a next-generation services company,” Vishal Sikka, CEO and MD, Infosys said.

The company has also added 59 new clients in during the quarter, taking the number to 1,164, as against 1,162 in the previous quarter.

“Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results,” said Sikka.On the estimates front, the company has maintained its revenue guidance at 6.5%-8.5% in constant currency.

During the quarter, the company also launched the Infosys Boundaryless Data Lake offering powered by the Information Grid Solution on Amazon Web Services (AWS).