Infosys Q1 profit moves up 3.2 pc at Rs 5,360 cr, revenue jumps 23 pc

In the April-June quarter of the previous financial year, the company had posted a profit of Rs 5,195 crore.

Infosys' total income in the first quarter (Q1) of the current financial year stood at Rs 35,146 crore, a growth of 23% over the total income of Rs 28,518 crore in the corresponding period of previous fiscal.

“Our strong overall performance in Q1 amidst an uncertain economic environment is a testament to our innate resilience as an organization, our industry-leading digital capabilities and continued client-relevance. We continue to gain market share and see a significant pipeline driven by our Cobalt cloud capabilities and differentiated digital value proposition”, said Salil Parekh, CEO and MD.

Financial services remained the top contributor to the company's revenue during the quarter under review. It accounted for 30.6% of the IT major's total revenue during this period followed by retail at 14.5%.

While communication contributed 13% to the total revenue in April-June quarter of FY23, energy, utilities, resources and services together accounted for 12.4% revenue.

Manufacturing sector's share was 12.1% during this period.

Among various markets and regions, North America topped in business generation accounting for 61.8% of the total revenue during the quarter ending June, 2022. With 25% share, Europe was the second biggest market for Infosys in terms of revenue.

“We are fueling the strong growth momentum with strategic investments in talent through hiring and competitive compensation revisions. While this will impact margins in the immediate term, it is expected to reduce attrition levels and position us well for future growth. We continue to optimize various cost levers to drive efficiency in operations”, said Nilanjan Roy, Infosys's Chief Financial Officer."

(With UNI inputs)