Infosys Q2 Results: Infosys, the second largest IT major of India, reported 20.50% Year on Year hike in Net profit at Rs.4,845 crore, for the Q2 ended on September 30, 2020. These states was Rs.4,019 crore in the same quarter of financial year 2020.
Infosys Performance Results
Infosys CFO Nilanjan Roy announced raise in interim dividend per share by 50% to Rs.12 as per the Infosys Q2 Results. The IT giant also revised its operating margin guidance to 23-24 % for FY21, earlier it was 21-23%. The CEO and MD of Infosys, Salil Parekh said, “Increase in revenue and margin outlook for FY 21 is due to the continued trust of clients in us.” He continued, “The second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. Digital and cloud capabilities combined with intense client relevance are helping us achieve differentiated results in the market as is visible in 2.2 percent year-on-year overall revenue growth and 25.4 percent growth from digital offerings, which now are at 47.3 percent of revenues.” Company reported the overall operating profit of $840 million that is up to 20.7% YoY and 18.7 % QoQ.
Revenue & Margin Guidance
As per Infosys Q2 Results Consolidated revenue of the company is reported a jump of 8.6 % YoY to Rs.24,570 crore. “ Our relentless efforts on cost optimization and strengthening operational efficiencies helped by certain cost deferrals led to 270 basis points sequential improvement in operating margin to 25.4 percent and a 300 basis points improvement in H1 margins,’ quoted by Roy.
This is very interesting to see that, however the voluntary attrition for IT sector went down to 7.80% from 11.70 in previous quarter-1 of FY21 ended on June 30. Last year this figure was at 18.30% as on September 30 in FY20.
Effect of the Q2 Result on Company Employees
Talking about Q2 performance results, COO Infosys Pravin Rao said, ‘The strength and resilience of Infosys was fully visible in Q2 with operating metrics, witnessing a, healthy increase, broad-based growth, highest ever large deal TCV at $3.15 billion and attrition reducing to single digits.”
“Employees have been critical part of our success. As a recognition of their stellar performance, we are giving 100% variable pay along with a special incentive for Q2. Additionally we are rolling out salary increases and promotions across all levels effective from January 1,” he added.