Infosys records Q2 net at Rs 3,726 crore

The growth in the net profit for the quarter is up by  7 per cent sequentially and 3.4 per cent year-on-year.

The company marked an operating profit of Rs. 4,246 crore for the quarter ended Sept 30.

The company said its revenues were Rs. 17,567 crore for the quarter ended September 30, 2017. The company said the revenue grew by 2.9 percent q-q.

However, the company cut its growth guidance for the year and said its revenues are expected to grow 5.5-6.5 per cent in constant currency terms in the current fiscal years.

It is is the first quarterly result announced by the tech giant since  co-founder Nandan Nilekani returned at the helm as chairman in August this year.

“We continue to focus on executing on the theme of software enabled services and on accelerating growth of our new services portfolio,” said U B Pravin Rao, Interim CEO and Managing Director.

“During the quarter, we responded quickly to the management and Board changes through proactive communication with all stakeholders minimizing any negative impact to the business and allowing us to deliver growth across all our large industry units," Rao said.

“Our focus on improving operational efficiencies enabled us to deliver stable margins in the quarter and at the same time provide compensation increases and higher variable payouts to our employees,” said M. D. Ranganath, CFO.

Ranganath said: "We have taken several steps during the quarter towards our capital allocation policy covering `13,000 crore share buyback, coupled with interim dividend of `13 per share for enhancing shareholder returns.”