Infosys net up 3.7 per cent in first quarter

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Bengaluru, July 13 (IANS) Software major Infosys on Friday reported Rs 3l,613 crore consolidated net profit for the first quarter of fiscal 2018-19, registering 3.7 per cent annual growth from Rs 3,483 crore in the same period year ago.

Sequentially, however, net profit declined 2.1 per cent from Rs 3,690 crore quarter ago.

In a regulatory filing on the BSE after the bourses closed for trading, the city-based IT major said consolidated revenue for the quarter (Q1) under review, grew 12 per cent annually to Rs 19,128 crore from Rs 17,078 crore in the like period year ago and 5.8 per cent sequentially from Rs 18,083 crore quarter ago.

Under the International Financial Reporting Standard (IFRS), net income, however, declined 1.2 per cent annually to $534 million from $541 million in same period year ago and 6.5 per cent sequentially from $575 million quarter ago, largely due to currency volatility.

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Gross revenue under the IFRS grew 6.8 per cent annually to $2,831 million from $2,651 in same period year ago but remained flat (0.9 per cent) sequentially at $2,805 million quarter ago.

–IANS

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