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Friday, July 23, 2021

Infosys Q1 net up 2.3%; guidance raised

The company, however, increased its full year revenue guidance in constant currency terms to 14-16 per cent from 12-14 per cent.

By: ENS Economic Bureau | Bengaluru |
July 15, 2021 3:36:34 am
Infosys’ consolidated revenue in the quarter was ahead of estimates at Rs 27,896 crore, up 6 per cent quarter-on-quarter. Constant currency revenue was up 4.8 per cent sequentially.

Infosys’ April-June quarter earnings was a mixed bag, with the company missing street estimates on the net profit front but raising its full-year revenue guidance. Net profit at Rs 5,195 crore was up 2.3 per cent from the preceding quarter.

The company, however, increased its full year revenue guidance in constant currency terms to 14-16 per cent from 12-14 per cent.

Infosys’ consolidated revenue in the quarter was ahead of estimates at Rs 27,896 crore, up 6 per cent quarter-on-quarter. Constant currency revenue was up 4.8 per cent sequentially. Earnings before interest and tax rose 2.5 per cent sequentially at Rs 6,603 crore, but margin declined 80 bps to 23.7 per cent.

“We grew at the fastest pace in Q1 in a decade, at 16.9 per cent year-on-year and 4.8 per cent quarter-on-quarter in constant currency,” Salil Parekh, CEO and MD, Infosys said.

During the quarter, Infosys signed large deals worth $2.6 billion and added two new clients in the $100 million plus category and 12 new clients in the $10 million category compared to the preceding quarter. —FE

WPI inflation eases in June on softer food, crude prices

New Delhi: The wholesale price-based inflation eased marginally to 12.07 per cent in June as crude oil and food items witnessed some softening in prices. However, it remained in double-digits for the third straight month, mainly on a low base of last year.

The wholesale price index (WPI)-based inflation inflation was (-) 1.81 per cent, in June 2020. Experts said the continuing double-digit WPI inflation and its potential future spillovers into CPI inflation may cause uneasiness into the tone of monetary policy. —ENS

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