New Delhi: IT major Infosys on Thursday reported its net profits up by 10.9 per cent year-on-year (YoY) to Rs 5,945 crore for the June quarter against Rs 5,360 crore in the corresponding quarter a year back.
The company reported its net revenue to grow by 10 per cent YoY to Rs 37,933 crore against Rs 34,470 crore in the same quarter last year.
On the other hand, the firm’s operating margin for the quarter stood at 20.8 per cent, up by 80 basis points over 20 points in the last year’s quarter.
Meanwhile, it reported 1 per cent sequential growth in sales up by 4.2 per cent YoY in the constant current terms.
For the first quarter of the financial year 2023, its attrition reduced to 17.3 per cent compared to 20.9 per cent in March and 28.4 per cent in the year-ago quarter.
CEO and MD Salil Prekh said, “We had a solid Q1 with a growth of 4.2 per cent and large deals of $2.3 billion which helps us to set a strong foundation for future growth. Our generative AI capabilities are expanding well, with 80 active client projects. Topaz, our comprehensive AI offering, is resonating well with clients. We see this being transformative for clients and enhancing our overall service portfolio.”
Adding further he said, “We have expanded the margin improvement program with a holistic set of actions for the short, medium and long-term, working on five key areas, supported by our leadership team.”
On Thursday, Infosys shares traded at RS 1,450 on BSE down by 1.65 per cent.