Infosys reports net profit of Rs 3483 crore in Q1, revenue from operations rises 1.8 per cent

On Friday morning, Infosys posted a consolidated net profit of Rs 3483 crore for the three months ending June 30, compared to Rs 3436 crore rupees in the same period last year. Consolidated revenue from operations rose about 1.8 per cent to Rs 17,078 crore.

By: Express Web Desk | New Delhi | Updated: July 14, 2017 9:44 am
infosys, infosys profit, infosys first quarter growth, infosys q1 profit, business news Analysts had estimated a consolidated net profit of Rs 3439 crore for the first quarter of Infosys

India’s second-biggest software services exporter Infosys Ltd reported a 1.4 per cent increase in first-quarter profit on Friday, reported Reuters. Assisted by key client wins, it also managed to slightly beat street estimates. The company also said it added eight clients in its $100 million category.

On Friday morning, Infosys posted a consolidated net profit of Rs 3483 crore for the three months ending June 30, compared to Rs 3436 crore in the same period last year. Consolidated revenue from operations rose about 1.8 per cent to Rs 17,078 crore. Infosys maintains 2017-18 revenue growth guidance at 6.5 to 8.5 per cent in constant currency, 7.1 to 9.1 per cent in dollar terms.

“Our relentless focus on strong cash generation led to a healthy operating cash flow. Further, our continued emphasis on operational efficiencies enabled us to mitigate the impact of margin headwinds during the quarter,” Infosys CFO M D Ranganath was quoted as saying by NDTV. Reuters reported that analysts had estimated a consolidated net profit of Rs 3439 crore for the first quarter.

While net employee reduction stood at 1,811, gross client additions went up to 59 in June quarter. Q1 also saw annualized standalone employee attrition at 16.9 per cent versus 15.8 per cent year ago and consolidated employee attrition at 21.0 per cent versus 21.0 per cent year ago. Infosys also announced the appointment of Inderpreet Sawhney as group general counsel and chief compliance officer effective July 3.

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  1. P
    p g
    Jul 14, 2017 at 11:53 am
    Infosys QUARTERLy net profit is Rs 3483 crores. My GOD. Then these very people start to give p8ink slipd to their employees. Annualy could be 12, 000 To 15,000 crores. Where is the money going. After such huge money in their bags, top officials give some ic accounts and statements and start retrenching employees, putting thousands lives on the street. Jail these top officials and partners if they retrench their employees in future.
    Reply
    1. R
      rodya
      Jul 15, 2017 at 5:19 pm
      You're right. These criminals earns millions and billions just for allocating work. This is pure exploitation. Gangs run this so called software company. It is a chop shop as rightly called by an American senator sometime back. Time to call their bluff. The people who are real work horse still is at risk all the time !
      Reply