Infosys net grows by 4.9%, at Rs.3,606 crore

Infosys has reported a Q-on-Q  increase of 4.9% in net profit for the quarter ended September 30, 2016 to Rs 3,606 crore, as against Rs 3,398 crore for the corresponding quarter last year.

The company clocked Rs 7,041 crore of net profit for the half year September 30, 2016. The revenues of the company Rs 17,310 crore for the quarter, as compared with Rs 15,635 for the corresponding quarter last year, showing a Q-on-Q increase of 3.1%.

The operating profit stood at Rs 4,309 crore for the quarter, as against  Rs 3,993 crore in the second quarter of the last fiscal year, with a Q-o-Q growth of 6.5%.

The company’s revenue outlook (consolidated) for the fiscal year ending March 31, 2017, under IFRS states a expected to grow 8.0% - 9.0%  in constant currency.This translates to 9.2% - 10.2% in INR terms based



on March 31st rates, 11.2% - 12.2% based on June 30th rates and 10.9% - 11.9% based on September 30th rates.

This quarter company also launched Skava Commerce, in collaboration with TOMS Shoes. Skava is an eCommerce platform to provide businesses a future-ready architecture that will enable next generation shopping experiences.

“We focused on strong execution in Q2 with our core IT services business showing good progress on the strength of our innovation and operational initiatives. While we continue to navigate an uncertain external environment, we remain focused on executing our strategy and increasing momentum of our software plus services model. Considering our performance in the first half of the year and the near-term uncertain business outlook, we are revising our revenue guidance.” CEO Vishal Sikka said.