Infosys Q1 results Highlights: Net profit surges 11.5% to Rs 4,223 crore

India's second-largest IT service provider is reported it's first-quarter results today. Infosys net profit went up by 11.5% year-on-year to Rs 4,233 crore. The operating margin improved on sequential basis by 150 bps to 22.7%. The digital revenue grew by 25.5% on year-on-year basis. The multinational corporation announced a partnership with US-based investment management firm Vanguard late on Tuesday. Thank you for tuning in to Deccan Herald's live coverage of Infosys Q1 results.

Thank you for tuning in to Deccan Herald's live coverage of Infosys Q1 results

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Despite contraction in global spends, Infosys managed to sign large deals worth $1.74 billion

The share of digital offering in companies revenues now grows to 44.5% - in line with the vision set out by CEO Salil Parekh.

The digital revenue grew by 25.5% on year-on-year basis

Attrition level, which had been a pain point for Infosys dips steeply to 11.7%, as lateral hirings in other companies are near frozen

The operating margin improved on sequential basis by 150 bps to 22.7%

Revenue goes up 8.5% to Rs 23,665 crore beating market expectations

Infosys net profit Surges 11.5% year-on-year to Rs 4,233 crore

Commentary on the macros, demand environment, banking, retail verticals, deal pipeline and involuntary attrition expected today.

Infosys is unlikely to announce full-year guidance due to uncertainty amidst rising coronavirus infections. Yesterday, Wipro did not provide guidance.

The Bengaluru-headquartered company may see its profit dip 10-11% QoQ, partly due to lower other income

Brokerages expect around 20-30 bps cross-currency headwind on dollar revenue growth, which could be down around 5.3-5.5% compared with the March quarter.

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