Infosys Q2 profit up 14% QoQ; co retains FY19 CC revenue, margin guidance, signs $2 bn deals

Moneycontrol News

India's second largest software services company Infosys reported the second quarter results above analysts' estimates, helped by large deal wins.

Infosys on October 16 reported 13.8 percent sequential growth in the second quarter consolidated profit at Rs 4,110 crore, while consolidated revenue grew by 7.7 percent to Rs 20,609 crore compared to Rs 19,128 crore in the previous quarter.

Analysts polled by Reuters on average expected Infosys to post revenue of Rs 20,292 crore, and profit of Rs 4,088.6 crore in the September quarter.



The company has maintained its full-year constant currency revenue growth guidance at 6-8 percent and EBIT margin at 22-24 percent.

Infosys also said it signed $2 billion worth of deals during the quarter.

The digital business accounted for 31 percent of overall revenue, or $905 million during the September-ended quarter. It showed a sequential growth of 13.5 percent in constant currency terms.

Operating margin in the second quarter was 23.7 percent, within the 22-24 percent Infosys's forecast range.



 

Revenue in Infosys's largest business — financial services and insurance — grew 5.8 percent in constant currency from a fall of 1.5 percent in the previous quarter. The vertical accounted for nearly a third (32.2 percent) of the company's revenue in the quarter.

Infosys stock closed 0.4 percent down at Rs 696.40 ahead of the second quarter results on Tuesday.

The story was updated to include additional information.

Original Source: https://www.moneycontrol.com/news/business/markets/infosys-q2-profit-jumps-14-qoq-to-rs-4110-cr-maintains-fy19-margin-guidance-3051631.html