The second-largest Indian IT exporter Infosys on Friday revealed 1.3 % growth combined net benefit at Rs 3,483 crores for the quarter to June 2017.
Net benefit in April-June 2017-18 at Rs 3,483 crore, or Rs 15.24 per share, was 1.3 % higher than Rs 3,436 crore (Rs 15.03 a share) in the same interval the last year. Infosys brought up its US dollar revenue growth assistance for the financial to 7.1-9.1 %, from the formerly estimated 6.1-8.1 %. However, Infosys managed its continuous forex income guidance at 6.5-8.5 %.
However, on a successive basis, Infosys’ net benefit dropped 3.3 %, while earnings were down 0.2 % in rupee terms. In US dollar terms, Infosys’ net benefit increased 5.8 % to USD 541 thousand in the June quarter while earnings increased 6 % to USD 2.65 billion dollars from the year-ago period. Liquid assets, such as cash and cash equivalents and investments, were at Rs 39,335 crore as of July 30, 2017.
Infosys said that in Q1, it is continued to help customers drive automated and advancement into the core of their businesses. This involved new solutions in places such as Cloud ecosystem, Big Data analytics and cyber security. The other places include Internet of Things engineering services and the company’s artificial intelligence platform Nia, which it revealed this season to help customers accept AI. With more than 160 events with more than 70 customers, Nia stayed main to all its discussions with customers, it said.
Infosys CFO M D Ranganath said that the main focus on powerful cash generation led to a healthy working cash flow.