Infosys Q2 net profit dips 2.2 pc to Rs 4,019 cr

India's second-largest IT services company Infosys on Friday said its consolidated net profit declined by 2.2 per cent to Rs 4,019 crore for July-September 2019 quarter.

This is against a net profit of Rs 4,110 crore in same period last fiscal, Infosys said in a regulatory filing. Bengaluru-based company's revenue rose by 9.8 per cent to Rs 22,629 crore in quarter under review from Rs 20,609 crore in year-ago period. In constant currency terms, this translates into an 11.4 per cent increase.

Infosys also raised lower-end of its FY2019-20 revenue guidance and revised forecast w stands at 9-10 per cent growth in constant currency terms. At beginning of fiscal, Infosys h said it expects revenue growth of 7.5-9.5 per cent for FY2019-20. Subsequently, while anuncing its first-quarter numbers, company raised its revenue growth guidance for fiscal to 8.5-10 per cent.

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"Our performance was robust on multiple dimensions  revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition," Infosys CEO and MD Salil Parekh said.

All se are clear signs that company is progressing well in its journey of client-centricity and maximising value for its stakeholders, he ded. In dollar terms, net profit was at USD 569 million while revenue was at USD 3.21 billion in said quarter. results come a day after larger rival, Tata Consultancy Services anunced its second-quarter results. Mumbai-based firm reported a 1.8 per cent rise in consolidated net profit at Rs 8,042 crore while its revenue grew by 5.8 per cent to Rs 38,977 crore.

In September 2019 quarter, Infosys' Digital revenues grew 38.4 per cent year-on-year to USD 1.23 billion, accounting for 38.3 per cent of its total revenues. It has also declared an interim dividend of Rs 8 per share. Infosys anunced its results after close of tring hours. Its scrip h closed at Rs 815.70 apiece, up 4.19 per cent from previous close on BSE.

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"We saw expansion in operating margins during quarter driven by improvement in operational parameters and cost efficiencies. We took first step towards implementation of our new capital allocation policy by increasing interim dividend by over 14 per cent compared to FY19," Infosys CFO Nilanjan Roy said.

company completed its share buyback of Rs 8,260 crore on August 26, 2019, wrapping up its ditional capital return programme of up to Rs 13,000 crore anunced in April 2018.

"Q2 witnessed ar 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 USD 2.8 billion. We are especially pleased by reduction in attrition driven by our focus on enhanced employee value proposition," Infosys COO Pravin Rao said.

During September quarter, Infosys ded 7,457 people to take its overall hecount to about 2.36 lakh. Its annualised consolidated attrition was lower at 21.7 per cent in said quarter from 23.4 per cent in June quarter. 

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