Bangalore: Indian software services company Infosys Limited It reported a 22.7 percent jump in quarterly profit on Wednesday as it won more contracts from global businesses expanding their digital services during the pandemic.
The Bengaluru-based company posted a net profit of Rs 5,195 crore for the first quarter ended June 30, compared to a profit of Rs 4,233 crore a year ago.
Its revenue from operations grew 17.9 per cent to Rs 27,896 crore.
Infosys expects revenue growth of 14 per cent to 16 per cent for FY22, compared to a growth of 14 per cent from 12 per cent projected in April.
Commenting on the company’s performance, the Chief Executive Officer (CEO) and Managing Director (MD) of Infosys said: “Driven by the dedication of our employees and the confidence of our customers, we grew 16.9 percent year-over-year and 4.8 percent quarter-on-quarter in constant currency at the fastest pace in the first quarter in a decade. Proud of the employees who as ‘One Infosys’ demonstrate resilience and commitment to our customers.”
India’s second largest IT services firm by revenue also kept its margin forecast for FY22 at 24 per cent from 22 per cent.
As the demand for digital talent continues to grow rapidly and job creation in the industry is posing a challenge in the near future, Infosys plans to expand its recruitment program by employing around 35,000 college graduates.
Infosys Chief Operating Officer (COO) Pravin Rao said: “Our customers continue to support the many initiatives we have undertaken; they value the delivery commitments we have fulfilled even during these extraordinary times.”
He added, “With the demand for digital talent increasing, increasing jobs in the industry is a near-term challenge. We plan to meet this demand by expanding our recruitment program of college graduates to 35,000 globally for FY22. are making.”
The IT major said digital revenues accounted for 53.9 per cent of total revenue, showing year-on-year constant currency growth of 42.1 per cent.
Shares of Infosys closed 2.07 per cent higher at Rs 1,577 on the BSE, while it closed 2.1 per cent higher at Rs 1,577.4 on the NSE.
(with inputs from agencies)
The Bengaluru-based company posted a net profit of Rs 5,195 crore for the first quarter ended June 30, compared to a profit of Rs 4,233 crore a year ago.
Its revenue from operations grew 17.9 per cent to Rs 27,896 crore.
Infosys expects revenue growth of 14 per cent to 16 per cent for FY22, compared to a growth of 14 per cent from 12 per cent projected in April.
Commenting on the company’s performance, the Chief Executive Officer (CEO) and Managing Director (MD) of Infosys said: “Driven by the dedication of our employees and the confidence of our customers, we grew 16.9 percent year-over-year and 4.8 percent quarter-on-quarter in constant currency at the fastest pace in the first quarter in a decade. Proud of the employees who as ‘One Infosys’ demonstrate resilience and commitment to our customers.”
India’s second largest IT services firm by revenue also kept its margin forecast for FY22 at 24 per cent from 22 per cent.
As the demand for digital talent continues to grow rapidly and job creation in the industry is posing a challenge in the near future, Infosys plans to expand its recruitment program by employing around 35,000 college graduates.
Infosys Chief Operating Officer (COO) Pravin Rao said: “Our customers continue to support the many initiatives we have undertaken; they value the delivery commitments we have fulfilled even during these extraordinary times.”
He added, “With the demand for digital talent increasing, increasing jobs in the industry is a near-term challenge. We plan to meet this demand by expanding our recruitment program of college graduates to 35,000 globally for FY22. are making.”
The IT major said digital revenues accounted for 53.9 per cent of total revenue, showing year-on-year constant currency growth of 42.1 per cent.
Shares of Infosys closed 2.07 per cent higher at Rs 1,577 on the BSE, while it closed 2.1 per cent higher at Rs 1,577.4 on the NSE.
(with inputs from agencies)
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