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Infosys Q1 results: Revenue up 7%, net profit grows 3.6%, revenue outlook raised, 11,625 crore set for dividend

Jul 18, 2024 04:52 PM IST

Infosys raises its revenue growth guidance to 4% after posting increased revenue and net profits.

Infosys raised its revenue growth forecast for the financial year 2024-25 on July 18, raising the growth percentage to 4% from 3% earlier. Analysts had expected the company to maintain it between 1-3%.

India’s Infosys raises it's revenue growth guidance (Reuters)
India’s Infosys raises it's revenue growth guidance (Reuters)

How did Infosys perform financially for the first quarter of 2024-25?

The IT giant's consolidated revenue grew 7% to 39,315 crore for the first quarter of the financial year 2024-25 from 37,933 during the previous year.

The net profit grew by 3.6% to 6,374 crore from 5,945 crore during the previous year.

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The company has also earmarked 11,625 crore as dividend, as per its financial statements.

The company had previously revised its yearly revenue growth guidance five times during the previous five quarters, slashing it to 1-3% during the previous quarter (Fourth quarter of the financial year 2023-24).

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The IT major's sequential quarterly net profit dropped by 20% due to a tax refund boost during the previous quarter.

Infosys also spent more on software packages for this quarter. Its expenses on software packages grew 27% to 3,455 crore from 2,720 crore during the previous year.

The operating margin grew by 30 basis points to 21.1%.

“We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation," said aid Salil Parekh, CEO and MD of Infosys. “This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution.”

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