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Infosys registers profit in Q2 Infosys

Infosys registers profit in Q2

India Blooms News Service | @indiablooms | 14 Oct 2020, 05:51 pm

Bengaluru/UNI: The IT major Infosys had registered a net profit of Rs 4845 crore during the second quarter ended on September 30, and ended a raised revenue forecast to 2 to 3 per cent for the financial year ending 2021.

In a company's release here today, it was stated that the company had clocked a net profit of Rs 4019 crore in the same period in the last fiscal.

The company had also declared an interim dividend of Rs 12 per equity share.

"Increase in revenue and margin outlook for FY21 is due to the continued trust clients have in us," Infosys CEO and MD Salil Parekh said.

Stating that the free cash flows grew significantly in H1 the Infosys CFO Nilanjan Roy said that it was due to its consistent focus on liquidity and cash management. "Consequently, we are increasing our interim dividend per share by 50 per cent to Rs 12," he added.

"The strength and resilience of Infosys was fully visible in Q2 with operating metrics witnessing a healthy increase, broad-based growth, highest ever large deal TCV at $ 3.15 bn and attrition reducing to single digits”, said Pravin Rao, COO.

“Employees have been critical part of our success. As a recognition of their stellar performance, we are giving 100% variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective Jan 1st.”“Our relentless efforts on cost optimization and strengthening operational efficiencies helped by certain cost deferrals led to 270 bpssequential improvement in operating margin to 25.4% and a 300 bpsimprovement in H1 margins,” said Nilanjan Roy, CFO.
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