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

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

Published on: Jul 18, 2024, 16:52:34 IST

By HT News Desk | Edited by Abhyjith K. Ashokan

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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)

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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