Infosys Q1 profit up 3.2% to ₹5,360 crore; raises FY23 revenue outlook
The Hindu
Its revenue rose by 23.6% to ₹34,470 crore in the just-ended June quarter.
India's second-largest software services firm Infosys on Sunday posted a 3.2% year-on-year rise in consolidated net profit to ₹5,360 crore for the April-June quarter.
The Bengaluru-based IT company's net profit stood at ₹5,195 crore in the same period of the previous year.
Its revenue rose by 23.6% to ₹34,470 crore in the just-ended June quarter, from ₹27,896 crore in the corresponding quarter of the previous year, according to the company's regulatory filing.
Infosys has raised its full year FY23 revenue guidance to 14-16% against 13-15% it had projected earlier, backed by Q1 growth, and strong demand outlook.
"Our strong overall performance in Q1 amidst an uncertain economic environment is a testament to our innate resilience as an organisation, our industry-leading digital capabilities and continued client-relevance," Salil Parekh, the CEO and MD of Infosys, said in a statement.
"We are investing in rapid talent expansion while ensuring rewarding careers for our employees, to better serve evolving market opportunities. This has resulted in a strong performance in Q1 and increase in FY 23 revenue guidance to 14-16%," Mr. Parekh said.
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