Infosys beats estimates, Q1 profit rise 21.6 pc

Beating estimates and despite high employee attrition, Infosys revenues were Rs 12,770 crore for the quarter, registering QoQ growth of 0.8%. Q1 revenue growth was at 13.3% YoY in INR terms.

India's second largest software exporter's FY 15 revenues are expected to grow 7%-9% in USD terms; 5.6%-7.6% in INR terms.

Its Earnings per share (EPS) was Rs 50.51 for the quarter ended June 30, 2014
 
According to the company, Liquid assets including cash and cash equivalents, available-for-sale financial assets, certificates of  deposits and government bonds were Rs 29,748 crore as on June 30, 2014 as compared to Rs 30,251 crore as on March 31, 2014.

Infosys and its subsidiaries added 61 clients during the quarter and 11,506 employees (gross) during the same period.

The company has 161,284 employees as on June 30, 2014 for Infosys and its subsidiaries.
 
“We continue to enjoy the confidence of our clients by demonstrating superior execution capability and value realization.” said S. D. Shibulal, CEO and Managing Director.

“As I transition the CEO mantle to Vishal, I am confident that he will leverage this strong foundation to take Infosys to greater heights. I wish him the very best."

U. B. Pravin Rao, COO, said: “We saw positive trends in our large deal wins during the quarter. We believe that this momentum will hold us in good stead as we focus on increasing volumes."

“Employee attrition rates are worrisome and we are implementing various initiatives to retain good talent,” he said.

Rajiv Bansal, CFO, said: “We improved operational performance as a result of our cost optimization initiatives and a focus on increasing productivity and utilization. This partially offset the impact of compensation increases for our employees this quarter.” said . “It will help us invest in areas that will accelerate growth.”