Infosys Q1 results: India's second largest IT services company Infosys announced its quarterly results for the period ending on June 30, 2024. Infosys reported a consolidated Profit After Tax (PAT) of ₹6,368 crore for the quarter ending June 30, 2024, reflecting a 7.1% increase compared to ₹5,945 crore in the same period last year.
The IT company’s bottom line dropped by 20.1 percent quarter-on-quarter, primarily due to a tax refund boost in the previous quarter.
“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, chief executive officer and managing director.
reported a consolidated Profit After Tax (PAT) of ₹6,368 crore for the quarter ending June 30, 2024, a 7.1% increase from the ₹5,945 crore reported in the same period last year.
Revenue from operations for the quarter reached ₹39,315 crore, a 3.6% rise from ₹37,933 crore in the corresponding quarter of the previous financial year.
In its guidance for FY25, the second-largest IT company anticipates a constant currency revenue growth of 3%-4%. The company also projected an operating margin ranging from 20% to 22% for the current financial year, according to its filing.
Infosys reported dollar revenue of $4,714 million for the quarter, reflecting a 2.1% increase from $4,617 million in Q1FY24 and a 3.3% rise from $4,564 million in Q4FY24.
The company reported 12.7% as its voluntary attrition. As of the June 2024 quarter, Infosys reported a total headcount of 315,332, marking a 0.6% decrease from 317,240 in March 2024 and a 6.23% decrease from 336,294 in the June 2023 quarter.
In the quarter ending June 2024, the financial services segment saw growth of 27.5%, compared to 26.4% in Q4FY24 and 28.1% in Q1FY24.
The retail segment grew by 13.8%, slightly down from 14.3% in Q4FY24 and 14.5% in Q1FY24. Meanwhile, the communication segment increased by 12.1%, compared to 12.3% in Q4FY24 and 11.7% in Q1FY24.
The energy, utilities, resources & services segment grew by 13.3%, similar to 13.4% in Q4FY24 and up from 12.9% in Q1FY24. Manufacturing posted growth of 14.7%, maintaining steady growth from 14.7% in Q4FY24 and up from 14.1% in Q1FY24.
The hi-tech segment saw growth of 8%, a slight decrease from 8.7% in Q4FY24 and up from 8.1% in Q1FY24. Finally, the life sciences segment grew by 7.3%, consistent with 7.3% in Q4FY24 and 7.2% in Q1FY24.
