{"id":6456,"date":"2020-07-15T20:35:14","date_gmt":"2020-07-15T20:35:14","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=6456"},"modified":"2020-07-15T20:35:14","modified_gmt":"2020-07-15T20:35:14","slug":"infosys-q1-pat-rises-to-rs4272cr-fy21-constant-currency-revenue-guidance-set-at-0-2","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=6456","title":{"rendered":"Infosys Q1 PAT rises to Rs4,272cr; FY21 constant currency revenue guidance set at 0-2%"},"content":{"rendered":"

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\n\t\"Infosys\"<\/div>\n
\n\tOn year-on-year (yoy) basis, the IT-giant Infosys<\/a> has continued to record healthy growth in both bottom-line and top-line base during June 2020 (Q1FY21) quarter. Infosys has posted its Q1FY21 result on Wednesday, where it reported a consolidated net profit of Rs4,272cr increasing by 12.4% from Rs3,802cr in the corresponding period of the previous year. However, Q1 PAT dropped gradually as against Rs4,335cr of the preceding quarter.<\/p>\n

Consolidated revenue from operations at Rs23,665cr, grew from Rs21,803cr of the similar quarter a year ago and Rs23,267cr of the previous quarter.<\/p>\n

Meanwhile, operating profit stood at Rs5,365cr with a growth of 20% yoy and 8.9% qoq. As for the operating margin, it was at 22.7%.<\/p>\n

Salil Parekh, CEO and MD of Infosys said, “Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients\u2019 business priorities which is resonating with them in these times. It also demonstrates the remarkable dedication of our employees and leadership during this period.” Adding he said, “Our confidence and visibility for the rest of the year is improving driven by our Q1 performance and large deal wins\u201d.<\/p>\n

Key highlights of the quarter were:<\/p>\n<\/div>\n

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  • \n\t\tRevenues grew year-on-year by 8.5% in Indian rupee; grew by 1.5% in constant currency.<\/li>\n

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  • \n\t\tDigital revenues at $1,389M (44.5% of total revenues), year-on-year growth of 25.5% in constant currency.<\/li>\n

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  • \n\t\tOperating margin at 22.7%, increase of 220 basis points year-on-year.<\/li>\n

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  • \n\t\tFree Cash Flow at Rs5,524cr; year-on-year growth of 63.5%.<\/li>\n

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  • \n\t\tVoluntary attrition for IT services declined to 11.7% from 20.2% in Q1FY20.<\/li>\n

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    \n\tPravin Rao, COO of Infosys said, “During the last few months, we took multiple steps aimed at employee safety and well-being while providing seamless services to our clients. Clients have recognized us for the speed, security and effectiveness of our remote enablement efforts.” He further adds saying, “The strength and diversity of our portfolio were evident in good revenue performance, sizeable large deal wins, high focus on operating metrics and significant decline in attrition\u201d.<\/p>\n

    Meanwhile, Nilanjan Roy, CFO at Infosys said, \u201cCollections were robust and CAPEX was focused, which led to 50% year on year increase in Free Cash Flows. Our liquid and debt-free Balance Sheet is a huge source of strength in these times.\u201d<\/p>\n

    Infosys has set its FY21 revenue growth guidance in the range of 0-2% in constant currency. While operating margin for FY 21 to be in the range of 21-23%.<\/p>\n

    In its meeting held today, the company’s Board, based on the recommendation of the Nomination and Remuneration Committee, appointed Bobby Parikh as an additional and Independent Director of the Company effective July 15, 2020, for 3 years, subject to the approval of the shareholders.<\/p>\n

    Ahead of the Q1 result, Infosys stock on Sensex finished at Rs831.45 per piece soaring by 6.16%.<\/p>\n<\/div>\n

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