Bengaluru, July 14 (IANS) Beating the street estimates, global software major Infosys Ltd on Friday gave a marginally higher revenue outlook in dollar and rupee value for fiscal 2017-18 despite flat and subdued growth in the first quarter (April-June).
“Consolidated revenue for this fiscal (FY 2018) will grow 7.1-9.1 per cent year-on-year (YoY) in dollars and 3-5 per cent in rupees while it would be 6.5-8.5 per cent in constant currency,” the IT major said in a statement here.
The outsourcing firm posted consolidated revenue of $10.2 billion (Rs 68,484 crore) for fiscal 2016-17.
In constant currency, US dollar was Rs 64.58 as on June 30 as against Rs 67.53 a year ago and Rs 64.85 on March 31, 2017.
The outlook for the fiscal, revised from 6.1-8.1 per cent in dollar and 2.5-4.5 per cent in rupee projected in April, surprised the market, as revenue for the April-June quarter (Q1) was flat (1.8 per cent) YoY at Rs 17,078 crore as against Rs 16,782 crore in the same period year ago and subdued (0.2 per cent) sequentially from Rs 17,120 crore quarter ago in rupee value.
Under the International Financial Reporting Standard (IFRS) too, revenue for the quarter under review (Q1), however, was up 6 per cent YoY to $2,651 million from $2,501 million and 3.2 per cent up sequentially from $2,569 million quarter ago in dollar value.
Of the total revenue, exports accounted for 96.4 per cent, including 61.1 per cent from North America, 22.4 per cent Europe, 12.9 per cent rest of the world and 3.6 per cent India.
Revenue from repeat business was 99.4 per cent in Q1 as against 96.2 per cent quarter ago and 98.8 per cent year ago.
In a regulatory filing on the BSE earlier in the day, the outsourcing firm reported Rs 3,483-crore consolidated net profit for Q1, registering 1.4 per cent YoY flat growth from Rs 3,436 crore in the like period year ago but 3.3 per cent lower sequentially from Rs 3,603 crore quarter ago in rupees.
Under the IFRS, Q1 net income was up 5.8 per cent YoY to $541 million from $511 million year ago and flat (0.4 per cent) sequentially from $543 million quarter ago in dollar terms.
Operating profit too was flat (1.6 per cent) YoY at Rs.4,111 crore as against Rs 4,047 crore and down 2.4 per cent sequentially from Rs 4,212 crore quarter ago in rupee terms.
In dollar terms under the IFRS, operating profit grew 6 per cent YoY to $638 million for Q1 from $602 million year ago and was flat sequentially from $634 million quarter ago.
Operating margin at 24.1 per cent was flat or same as year ago.
Operating cash flow was Rs 4,151 crore ($644 million) in Q1, as against Rs 3,625 crore ($547 million) in the fourth quarter (Q4) of last fiscal (2016-17).
Cash and investments were Rs.39,335 crore ($6,091 million) on June 30, as against Rs 38,773 crore ($5,979 million) on March 31.
The company’s blue chip scrip of Rs 5 per share gained Rs 6.30 to Rs 982.60 in the post-noon trading on the BSE from Thursday’s closing rate of 976.30 after opening at Rs 1,000 and going up to Rs 1,006.65 in the pre-noon session.