Infosys profits reach Rs. 5,195 crore in Q1, revenue jumps by 6% QoQ

The IT company’s revenue from digital offerings increased to $2,040 million, an increase of 9.7% from $1,859 million in the previous quarter

Bengaluru-based Information Technology firm Infosys recorded a 2.3% quarter-over-quarter rise in consolidated profits, reaching Rs 5,195 crore in the March- June 2021 quarter of the FY 2022. The company’s revenue for the quarter ending in June 2021 stood at Rs 27,896, a jump of over 6% Q-o-Q. In terms of the US Dollar, Infosys clocked revenue growth of 4.7% reaching $3,758 million for Q1FY2022.

The IT company’s revenue from digital offerings increased to $2,040 million, an increase of 9.7% from $1,859 million in the previous quarter. However, the revenue obtained from core business fell by 0.7% quarter-over-quarter to $1,742 million. Digital revenues as a percentage of the total revenue of Infosys came out to be 53.9% for the June quarter as against 51.5% in the March quarter and 44.5% in the year-ago quarter.

Among business segments, financial services retained the top position, contributing over 33% of the quarterly revenue followed by retail(15%), Communication(12.2%), Energy, Utilities, Resources & Services 12.91%), Manufacturing (9.7%), Hi-Tech (8.3%), Life Sciences(6.8%) and others(2.9%).

Compared to the previous quarter, revenue in constant currency grew by 4.8% in the June 2021 quarter.

The CEO and Managing Director at Infosys, Salil Parekh credited the company’s employees and the trust of its clients for the quarterly numbers. “We grew at the fastest pace in Q1 in a decade, at 16.9% percent YoY and 4.8% Q-o-Q in constant currency,” Parekh added.

The share price of Infosys closed at Rs 1,577.40 on Wednesday, an increase of 2.10% or Rs 32.45 over the previous day on the National Stock Exchange. The price has jumped by over 26% in 2021.

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