Infosys net up 10.3 per cent in second quarter

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Bengaluru, Oct 16 (IANS) Software major Infosys on Tuesday reported Rs 4,110 crore consolidated net profit for the second quarter of fiscal 2018-19, registering 10.3 per cent annual growth from Rs 3,726 crore in the same period a year ago and 13.8 per cent sequential growth from Rs 3,612 crore quarter ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter under review (Q2) grew 17.3 per cent annually to Rs 20,609 crore from Rs 17,567 crore in the like period year ago and 7.3 per cent sequentially from Rs 19,128 crore quarter ago.

Under the International Financial Reporting Standard (IFRS), net income, however, was flat (0.5 per cent) annually at $581 million from $578 million year ago but up 8.8 per cent sequentially from $534 million quarter ago.

Revenue in dollar terms grew 7.7 per cent annually to $2,921 million from $2,728 million a year ago and 3.2 per cent from $2,832 million a quarter ago.

The company, however, retained revenue guidance for the fiscal (FY 2019) at 6-8 per cent year-on-year (YoY) and operating marging at 22-24 per cent YoY.

“Operating margin for the second quarter at 23.7 per cent is at higher end of our guidance range,” said the company in a statement later.

Digital revenue at $905 million, accounted for 31 per cent of the total revenue and grww 33.5 per cent YoY and 13.5 per cent quarterly.

“We have also signed a large deal of $2 billion,” claimed the company but did not disclose the client’s name, its geographic location and in which vertical it operates.

The board also declared 140 per cent interim dividend of Rs 7 per share of Rs 5 face value.

“We have also allotted over 218-crore fully paid-up equity shares of Rs 5 face value as bonus issue, which was approved by shareholders through postal ballot during the quarter,” added the statement.

The company’s blue-chip scrip of Rs 5 face value lost Rs 2.70 per share to end at Rs 696.40 at the end of Tuesday’s trading on the BSE, as against Monday closing price of Rs 699.10 and opening price of Rs 709. It was also quoted at a high of Rs 713.75 and a low of Rs 688.10 during the intra-day trading session.

–IANS

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