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Infosys Q2 net profit 20.5% at Rs 4,845 crore; Raises Revenue Forecasts for FY21 – Business News

India’s second-largest IT services company Infosys said on Wednesday that its consolidated net profit for the September quarter rose 20.5 per cent to Rs 4,845 crore, and raised its revenue forecast for FY21 by 2-3 per cent.

Infosys said in a regulatory filing that Infosys had posted a net profit of Rs 4,019 crore in the same period of the previous financial year.

The Bangalore-based company’s revenue grew 8.5 percent to Rs 24,570 crore in the quarter under review, from Rs 22,629 crore in the year-ago period.

Infosys has increased its guidance in the context of constant currency by 2-3% in FY11.

Earlier, the company had guided a 2 percent increase in constant currency terms for the current fiscal year.

Infosys CEO and MD Salil Parekh said, “Customers are confident of us as revenue and margin outlook continue to grow for FY21.

He said the company’s digital and cloud capabilities, along with deep customer relevance, are helping to achieve differentiated results in the market, and this is reflected in quarterly performance as well.

The company has announced an interim dividend of Rs 12 per equity share.

Infosys CFO Neelanjan Roy said free cash flow in H1 has increased significantly, driven by the continued focus on liquidity and cash management.

“As a result, we are increasing our interim dividend by 50 percent to Rs. 12 per share,” he said. ”

The company also said that it is offering 100 percent variable pay with special incentives for the second quarter.

Infosys COO Praveen Rao said that apart from this, it will also implement increment and promotion at all levels.

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