Infosys Q1 net profit up 5%

Tribune News Service

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Bengaluru, July 21

Infosys today reported a growth of 5% in net profit year-on-year (YoY) in rupee terms for the first quarter (April-June) of this fiscal (2015-16).

“We posted net profit of Rs 3,030 crore and $476 million for the quarter (Q1) under review as against Rs 2,886 crore and $482 million in the same period a year ago (2014-15), the company said.

However, sequentially net profit declined 2.1% in rupee terms (Rs 3,097 crore profit was reported in January-March quarter) and 4.5% in dollar terms ($498 million posted in January-March quarter) of the last fiscal (FY 2015).

Revenue growth for first quarter, however, remained positive in rupee and dollar terms, with 12.4% YoY increase to Rs 14,354 crore and 5.7% YoY to $2.3 billion under the International Financial Reporting Standard (IFRS).

The company maintained annual revenue guidance at 10-12% in constant currency it projected in April for this fiscal (2015-16) but revised marginally upwards by 3.1% in rupee and 1% in dollar terms.