Infosys Q1 Net Profit up 22% to Rs 5,195 crore; Raises Revenue Outlook for FY22

Infosys, the country's second-largest software services provider, recorded a consolidated profit of Rs 5,195 crore in the quarter ended June 2021, compared to Rs 5,076 crore in the previous quarter.

The company's consolidated revenue from operations climbed to Rs 27,896 crore, up roughly 18 percent year over year from Rs 23,665 crores and up 6% from Rs 26,311 crores.

Dollar revenue increased 4.7 percent to $3,782 million, up from $3,613 million in the previous quarter. For the quarter, the operating margin was 23.7 percent.

The EBIT margin for the quarter was 23.7 percent, up from 22.7 percent a year earlier. On a quarter-over-quarter basis, it fell 0.8% from the previous quarter's 24.5 percent.

On July 14, the stock of Infosys rose 2.07% to settle at Rs 1,576.90. So far in the year 2021, it has increased by 26%.

According to Chief Operating Officer Pravin Rao, Infosys wants to hire 35,000 college graduates globally in FY22. "As the demand for digital talent grows, the sector faces a near-term challenge: growing attrition. "We expect to accommodate this demand by increasing our college graduate hiring program to 35,000 globally in FY 22," he stated.

During the June quarter, the company said it signed significant deals worth $2.6 billion. In comparison to the previous quarter, the company added two new clients worth $100 million or more and 12 new clients worth $10 million or more.

Infosys Company details

LTP: 1,577.40
Market Cap: 6.69LCr
P/E ratio: 34.65
Div yield: 1.71%
YTD: 25.15%