Q1FY20 Results: Infosys increases revenue guidance
India’s second largest IT exporter, Infosys reported its first quarter result of FY20. The companyès revenue for Q1FY20 grew nearly 14 per cent YoY to Rs. 21,803 crore.
Operating profit during the quarter remained largely flat at Rs. 4,471 crore with a corresponding margin contraction of 320 bps. Operating margin for the quarter stood at 20.5 per cent. Net profit for the period grew marginally by 5.3 per cent YoY to Rs. 3,802 crore.
The company reported 12.4 per cent YoY constant currency growth, while digital business (35.7 per cent of revenue) grew 41.9 per cent YoY to US$ 1,119 million. During the quarter, the company signed deals worth US$2.7 billion.
The company’s management raised the revenue guidance for FY20 to the range of 8.5 to 10 per cent in constant currency term. Further, it maintained its operating margin guidance in the range of 21-23 per cent.
Ahead of its quarterly result, the stock of Infosys traded in the positive terrain. The stock which opened at Rs. 723.3 apiece ended at Rs. 727.10, up by 0.9 per cent.