Infosys Q1 Profit Up 7.1%, Raises FY25 Outlook - Business News
By Rediff Money Desk, Bengaluru Jul 18, 2024 16:08
Infosys reported a 7% rise in Q1 net profit and raised its FY25 revenue growth guidance to 3-4%. The company highlighted strong growth and client trust.
![Infosys Q1 Profit Up 7.1%, Raises FY25 Outlook - Business News](https://im.rediff.com/money/2022/jun/01salil-parekh-1.jpg)
Photograph: PTI Photo
Bengaluru, Jul 18 (PTI) IT major Infosys Ltd on Thursday reported a 7 per cent rise in first quarter net profit and raised its growth outlook for the current financial year.
The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
Quarter-on-quarter the company's net profit fell 20 per cent from Rs 7,969 crore in the January-March quarter.
For the current fiscal year, it raised revenue growth guidance to 3-4 per cent in constant currency terms.
"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," said Salil Parekh, CEO and MD.
"With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities," Parekh added.
The consolidated net profit of Infosys increased to Rs 6,368 crore in the April-June quarter, compared to Rs 5,945 crore in the same period a year back, according to a stock exchange filing by the company.
Quarter-on-quarter the company's net profit fell 20 per cent from Rs 7,969 crore in the January-March quarter.
For the current fiscal year, it raised revenue growth guidance to 3-4 per cent in constant currency terms.
"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," said Salil Parekh, CEO and MD.
"With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities," Parekh added.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- IFL Enterprises
- 1.36 (+ 4.62)
- 139837616
- Franklin Industries
- 3.90 (+ 4.56)
- 41704768
- Vodafone Idea L
- 16.28 ( -3.04)
- 37101580
- Sawaca Business Mach
- 0.67 ( -4.29)
- 36642255
- Tata Teleservices (M
- 97.43 (+ 19.80)
- 21113173
MORE NEWS
![USFDA Classifies...](https://im.rediff.com/80-80/money/2023/mar/31zydus.jpg)
USFDA Classifies Zydus Plant as 'Official...
USFDA has issued an 'Official Action Indicated' classification for Zydus Lifesciences's...
ki Mobility to Open 5,000 myTVS Service...
ki Mobility Solutions plans to expand its myTVS multi-brand service network to 5,000 by...
![Tech Transforms...](https://im.rediff.com/80-80/money/2017/jun/13hiring.jpg)
Tech Transforms CIOs to CDIOs: Hiring Surge -...
Study reveals a 33% rise in CDIO hiring driven by tech advancements, as CIO roles...