Infosys posts 7 per cent increase in q1 net profit at Rs 6,386 crore

New Delhi, July 18 (SocialNews.XYZ) Infosys on Thursday reported 7.1 per cent increase in net profit at Rs 6,368 crore for the April-June quarter of the current financial year compared to the same period of 2023-24.

India's second-largest IT company registered a 3.6 per cent increase in revenue from operations to Rs 39,315 crore during the first quarter, the company said in a regulatory filing.

The IT major has also raised its revenue growth guidance by 3 to 4 per cent for 2024-25.

Infosys retained the guidance for its EBIT (earnings before interest and tax) margin or the operating margin at 20-22 per cent for the current financial year.

Infosys recorded 34 large deal wins during the quarter, the highest-ever, with TCV of $4.1 billion, with 57.6 per cent of them being net new.

"We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution," Infosys CEO Salil Parekh said.

"The focused Generative AI approach for enterprises is finding strong traction with clients. This is building on our Topaz and Cobalt capabilities," Parekh added.

However, the company's headcount is down for the sixth straight quarter by 1,908 in Q1. With this decline, the total headcount of Infosys stands at 3,15,332.

As far as the country-wise performance is concerned, the company's business in India recorded a 0.9 per cent increase to 3.1 per cent of the total revenue share. Meanwhile, the North American region declined by 0.7 per cent, and accounted for 58.9 per cent of the total revenue share. Europe's share declined by 0.2 per cent to 28.4 from 28.6 per cent.

Source: IANS