Infosys net profit rises 10.3% to Rs 4,110 crore in Q2

NEW DELHI: IT major Infosys on Tuesday reported a net profit of Rs 4,110 crore in the second quarter ending September 30. On year-on-year (y-o-y) basis, Infosys' profit rose 10.3 per cent from Rs 3,726 crore posted in the same period last year.

The Bengaluru-headquartered company posted a 17.3 per cent rise in revenue from operations to Rs 20,609 crore in Q2.

Analysts had on average expected a profit of Rs 4,051 crore, according to I/B/E/S data from Refinitiv.

The country's No. 2 software services exporter, has also declared an interim dividend of Rs 7 per equity share. Record date for interim dividend has been fixed on October 27 and October 30 will be the payment date, Infosys said in a statement to stock exchanges.

Infosys retained guidance for full-year (FY'19) revenue growth of 6-8 percent in constant currency terms, in line with broker expectations.

"We are delighted with our broad-based growth across all business segments and geographies during the quarter. This is a testimony to our strong client relationships, digital led full service capabilities, and intense focus on the needs of our clients," said Salil Parekh, chief executive and managing director, Infosys.

"Large deal wins at over $2 billion during the quarter demonstrate our increased client relevance and also give us better growth visibility for the near-term," he added.

On dispute over former chief financial officer (CFO) Rajiv Bansal's pay settlement, the company said that "it has received legal advice and will comply with the award and make the necessary payments."



Infosys had lost the arbitration over the severance package to Bansal and had been asked to pay outstanding amount of Rs 12.17 crore with interest.