Infosys on Tuesday posted a 5 per cent rise in its profit at Rs 3,030 crore for the first quarter of FY16 ended June 30, 2015. The global software major retained its full fiscal year sales outlook on large outsourcing deal wins from overseas clients.
The company’s revenues were at Rs 14,354 crore for the April-June quarter posting a growth of 12.4 per cent, compared to the same period last year.
At 9.25 am, Infosys shares were up 9.61 per cent on BSE. On NSE, the shares were up 10.26 per cent.
On a quarterly basis the Q1 revenue growth was 7 per cent which is the highest in 15 quarters in dollar terms. During the quarter the company witnessed a QoQ volume growth at 5.4 per cent, highest in 19 quarters.
The company said its business volume growth, a key barometer for demand, was up 5.4 per cent in the June quarter from the previous three months, the most in nearly five years, bolstered by a surge in demand from clients in the United States, its biggest market.
Infosys, which is also listed in the United States, retained its 10 per cent to 12 per cent sales growth outlook, first given in April, for the fiscal year ending in March 2016.
“The organization realignment made earlier this year for deeper client and operational focus has resulted in strong volume growth,” Infosys Chief Operating Officer UB Pravin Rao said in the statement.
Here are the highlights from Infosys’ Q1 resutls
– registers volume growth of 5.4% QoQ, highest in 19 quarters
– net profit at Rs 3,030 cr; growth of 5% YoY
-revenues at Rs 14,354 cr; QoQ growth of 7%, YoY growth of 12.4%
– gross profit for Q1 at $822 mn, increase of 4.1% YoY
– gross profit at Rs 5,231 cr, increase of 10.7% YoY
– 6 large deals signed with TCV of $688 mn
– utilization including trainees at 75.7%; expansion of 290 bps QoQ
– Quarterly annualized attrition at 14.2% compared to 23.4% in Q1FY15, decline of 920 bps YoY
– Utilization excluding trainees at 80.2%; expansion of 160 bps QoQ
With Reuters inputs