Infosys Shines Bright: Q1 2024 Financial Highlights Unveiled!
Infosys, India’s second-largest IT services company, recently shared its financial results for the quarter ending June 30, 2024. They reported a consolidated profit after tax (PAT) of ₹6,368 crore, 7.1% higher than the ₹5,945 crore from last year. However, their profit dropped by 20.1% compared to the previous quarter, largely due to a tax refund boost they received earlier.
According to Salil Parekh, Infosys’ CEO, the company had a strong start to the financial year 2025, with significant growth across various fronts, improved operating margins, successful large deals, and record cash generation. He attributed this success to the company’s unique services, strong client relationships, and consistent execution.
Here are the key highlights from Infosys’ Q1 results:
- Profit and Revenue: Infosys reported a PAT of ₹6,368 crore and a revenue of ₹39,315 crore for Q1 FY25. This reflects respective increases of 7.1% and 3.6% compared to last year.
- EBIT and Guidance: For the fiscal year 2025, Infosys expects constant currency revenue growth of 3%- 4% and an operating margin between 20% and 22%. This guidance indicates their anticipated financial performance for the year ahead.
- Dollar Revenue: They reported a revenue of $4,714 million for the quarter, up by 2.1% from Q1 FY24 and 3.3% from Q4 FY24.
- Voluntary Attrition: Infosys experienced a voluntary attrition rate of 12.7%, reflecting changes in their workforce. As of June 2024, they had 315,332 employees, a slight decrease from March 2024.
- Segment-wise Results: Different sectors showed varied growth rates. For instance, financial services grew by 27.5%, while retail and communication segments saw growth rates of 13.8% and 12.1%, respectively. Manufacturing and energy sectors also showed positive growth.
Overall, Infosys’ latest financial report highlights its strong revenue growth performance, strategic guidance for the future, and insights into its operational dynamics across various industry sectors.