Infosys Ltd, the Bangalore based IT major announced second quarter 2018 results. The company's profit rose for the second quarter but the operating margin remained constant amid fall in the rupee value.
The company reported a net profit of Rs 4,110 crore in the second quarter of 2018, up by 13.6%.
Revenue in dollar terms inched up to touch $2,921 million, up by 3.2% as against the first quarter of 2018. The Earnings Before Interest and Tax surged up by whopping Rs 4,894 crore whereas the operating margin remained static at 23.7 percent.
For the second quarter, revenues grew year-on-year by 17.3% in rupee terms at Rs 20,609 crores and in 8.1% in constant currency terms. The company's revenue grew sequentially by 7.7% in rupee terms and in 4.2% in constant currency terms.
The company's COO, U B Pravin Rao stated that "We had another quarter of solid operating parameters with utilization being stable and offshore mix improving to an all-time high". "Our Digital services grew double digits sequentially, while growth in top clients was also robust."
M.D. Ranganath, CFO said that "Our unwavering focus on strong financial performance on multiple fronts continued to deliver results during the quarter. Operating margins for the quarter as well as for the half year was at 23.7%, near the top end of our guidance band". "Operating Cash Flow was over $1 billion during the first half of the year and ROE was at 24.7%. We will continue to make strategic investments in digital to leverage opportunities and at the same time keep sharp focus on key operational efficiency parameters."
The company's scrips were down by 0.39% at Rs 696.40 at the close of today's trade session.