Bengaluru: India’s second largest IT services firm, Infosys’ net profit rose by 1.4 per cent at Rs 3,483 crore for the April-June quarter of FY18. However, Infosys’ quarter-on-quarter profits declined by 3.3 per cent. The firm’s revenues grew by 1.8 per cent at Rs 17,078 crore in the first quarter as against Rs 16,782 crore in the same period last year.
The IT giant retained its revenue guidance at 6.5 to 8.5 per cent for the 2018 fiscal year. Speaking about Infosys’ performance in the June quarter, Infosys CEO Vishal Sikka said, “The tremendous adoption of automation that we have seen has led to the improvement of productivity. Overall, I’m very happy with execution in this quarter.”
Mr Sikka also said that there was an increase in revenue per employee for six quarters in a row. In addition, the new services and software offerings introduced by the company have also contributed to the growth of revenue in the first quarter of the current financial year.
“Our relentless focus on strong cash generation led to a healthy operating cash flow. Further, our continued emphasis on operational efficiencies enabled us to mitigate the impact of margin headwinds during the quarter. We successfully navigated yet another quarter of significant currency volatility through our hedging,” CFO M.D. Ranganath said.
The firm also stated that it will be focusing on deepening its partnerships, investing in technology and expertise that complement its strategy, while participating with clients and partners in the technical communities that will create opportunities for the company.
