At the end of the 2nd quarter, Infosys made a good profit or bad

Infosys reported a consolidated net profit of Rs 6,212 crore for the quarter ended September 30, 2023, which is a 3.17% increase from Rs 6,021 crore in the corresponding period last year. This is a good performance, given the challenging global economic environment.

 

Infosys

 

What is the net profit of Infosys Q2

And the company's consolidated revenue grew by nearly 7% to Rs 38,994 crore. According to an ETNow poll, Infosys' net profit and revenue stood at Rs 6,170 crore and Rs 38,350 crore, respectively. The company posted a profit that exceeded the forecast.

Infosys sees revenue growth of 1.0-2.5% in FY24, compared to 1.0-2.5% growth in constant currency terms in FY24 compared to 1.0-3.5% previously.

The company has also announced an interim dividend of Rs 18 per share to its shareholders. Infosys shares fell 2.82% to Rs 1,452.30 as the quarterly results were released in late trade.

Infosys's profit and revenue grew 3% and 7% year-on-year, respectively, and 3% and 4.5%, respectively, in the June quarter. And in constant currency, Infosys' revenue grew 2.3 percent quarter-on-quarter and 2.5 percent year-on-year.

The staff utilization ratio rose from 78.9 percent to 80.4 percent for the June quarter and the September quarter. And the financial services sector, Infosys' main revenue generator, saw its revenue decline by 7.3 per cent year-on-year. It fell by 4.3 percent in constant currency terms.

On a regional basis, North America, Infosys' core business segment, posted a mere 1 percent revenue growth, which came as a shock to investors. The European market registered a rise of 5.4 percent.