1. Infosys Q2 results: Target of hitting $20 bn revenue by 2020 stays intact, says Vishal Sikka

Infosys Q2 results: Target of hitting $20 bn revenue by 2020 stays intact, says Vishal Sikka

Infosys Q2 profit: Stating that this is a structurally challenging time for the industry, Vishal Sikka, CEO, Infosys said that he is happy with the company's performance and is focused on strong execution in Q2.

By: | Updated: October 14, 2016 7:31 PM
The target of hitting  billion revenue by 2020 stays intact, he added. Infosys Q2 profit: The target of hitting billion revenue by 2020 stays intact, he added.

Stating that this is a structurally challenging time for the industry, Vishal Sikka, CEO, Infosys told ET Now that he is happy with the company’s performance and is focused on strong execution in Q2. The target of hitting $20 billion revenue by 2020 stays intact, he added. “Core IT services business is showing good progress and termination of the contract by RBS is one of the reasons behind guidance cut,” he further stated.

Infosys reported 4.95 per cent rise in net profit at Rs 3,606 crore for the quarter ended September 30, 2016, against Rs 3,436 crore in the sequential quarter ended June 30, 2016. Consolidated total income of the IT major increased by 3 per cent on quarter-on-quarter basis to Rs 18,070 crore for the quarter under review.

It had reported a total income of Rs 17535 in the previous quarter ended June 30, 2016. Consolidated operating profit of the company jumped by 6.50 per cent QoQ to Rs 4,309 crore from Rs 4,047 crore in the sequential quarter ended June 30, 2016.

ALSO READ: Infosys Q2 net profit rises 4.95% QoQ to Rs 3,606 crore

Infosys has cut FY17 revenue guidance to 8-9 per cent against 10.5-12 per cent in constant currency terms. The company has declared an interim dividend of Rs 11 per share with face value of Rs 5. The record date for payment of dividend has been fixed for October 24, 2016, and the dividend will be paid on October 26.

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