Infosys said its consolidated net profit grew 11.9 per cent to Rs 5,421 crore in the September 2021 quarter.
Infosys Q2 Results in Hindi: India’s second largest IT company Infosys on Wednesday said its consolidated net profit grew 11.9 per cent to Rs 5,421 crore in the September 2021 quarter. According to a regulatory filing, Infosys’ net profit stood at Rs 4,845 crore in the same period of the previous fiscal. The Bengaluru-based company’s revenue grew 20.5 per cent to Rs 29,602 crore in the quarter under review. It was Rs 24,570 crore in the same period last year.
Revenue growth forecast for FY 2022 raised
Infosys has raised its revenue growth forecast for the fiscal year 2022 to 16.5-17.5 per cent. Earlier, the company had projected revenue growth for the quarter ending March 2022 at 14-16 per cent in constant currency terms. Infosys CEO and MD Salil Parekh said that their stellar performance and strong growth outlook reflect their strategic focus and strength of digital offerings. The company said in a statement that the board has declared an interim dividend of Rs 15 per share for the financial year 2022.
However, Infosys has retained its consolidated operating margin forecast for 2021-22 at 22-24 per cent. The company won deals worth $2.15 billion in the quarter under review. On the operating front, the company’s consolidated operating margin declined by 10 basis points. It has come down to 23.6 percent. The major reason for the decline is the company’s increase in salary to retain the talent. However, these efforts were not successful. Because the company’s attrition rate increased to 20.1 percent, which was 13.9 percent in the previous quarter.
Company’s stock jumped
At the same time, the company’s shares closed at Rs 1,705 with a jump of 1.2 per cent on the National Stock Exchange.
At the same time, Wipro said on Wednesday that the company’s consolidated net profit fell 9.6 percent to Rs 2,930.7 crore in the quarter ending September. The company’s consolidated revenue grew by 7.7 per cent to Rs 19,667.4 crore in the quarter. The reason for the decline in the company’s profit has been the payment of higher taxes and sharp rise in costs.
read this also: Wipro Q2 results: Wipro profits fall 9.6%, revenue up 7.7%
read this also: Airplane fuel may be cheaper, this state announces huge reduction in VAT rates
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.