Infosys, India’s second-largest IT firm, reported a 4.7% rise in net profit for the September quarter, reaching Rs 6,506 crore, driven by strong performance in the financial services sector. Revenue grew by 5.1% year-on-year to Rs 40,986 crore. The company has raised its full-year revenue guidance to 3.75%-4.50%, reflecting improving market conditions despite global economic challenges.
CEO Salil Parekh credited the financial services sector for the growth but noted that spending in other sectors remains cautious, with deals focusing primarily on cost efficiency. This mirrors trends observed by other industry leaders like Wipro and TCS.
Operating margins remained stable at 21.1%, and Infosys reported $2.4 billion in large deal wins, though this was down from the previous quarter. North American growth lagged, but Europe saw a 15.5% rise in revenue, while India grew by 16%.
Infosys added 2,456 employees, bringing the total workforce to 317,788, and remains on track to meet its hiring targets. The company declared an interim dividend of Rs 21 per share. Despite unmet market expectations, Infosys’ strategic focus on financial services and cost efficiencies continues to drive its resilience in a challenging environment.
4o