/financial-express-hindi/media/media_files/UFH5nkMyFKiXwsyNsET3.jpg "Infosys Q1 FY25 Result: Infosys expects 15-20 thousand new recruitments, net profit increased by 7%, revenue guidance also improved")
Infosys Q1 FY25 Result :IT sector giant Infosys has announced its financial results for the quarter ended June 2024. The company has registered a 7 per cent year-on-year increase in its consolidated net profit during this quarter. Along with this, it has also improved its growth guidance for the entire financial year. On the basis of which the company is expecting to hire 15,000-20,000 new people during the current financial year.
Revenue growth guidance raised to 3-4%
According to the results announced on Thursday, Infosys’ consolidated net profit during the June quarter of FY 2024-25 increased by 7 per cent to Rs 6,368 crore. Whereas according to BSE filing, the company had earned a profit of Rs 5,945 crore in the same period a year ago. The company’s net profit declined by 20 per cent in April-June, from Rs 7,969 crore during the previous quarter i.e. January-March 2024. For the current financial year, the company has increased its revenue growth guidance from 1-3 per cent to 3-4 per cent in constant currency terms.
Also read : NEET UG 2024 hearing: Supreme Court orders NTA to upload city-center wise results by Saturday, hearing on counseling on Monday
Operating margin stood at 21.1%
Company CEO and MD Salil Parekh said, “We have had a great start to FY25, with strong and broad-based growth, widening operating margins, strong large deals and the highest ever cash generation. This is a testament to our differentiated services, customer trust and continued excellence.” The company’s operating margin stood at 21.1 per cent during the quarter. Infosys expects its operating margin to be 20-22 per cent in the current financial year.
Also read : ITR filing: If you miss the deadline for income tax return, it will cost you heavily, not just the penalty, there are many other disadvantages
Parekh said, “Our focus on generative AI for enterprises working with their data sets on cloud foundation has further strengthened our engagement with our customers.” During the June quarter, the company has secured large deals worth US$ 4.1 billion. Parekh said, “Our performance in terms of large deals during the first quarter was very strong, which has given us strength for the full year.”
Also read: Ladla Bhai Yojana: Scheme to give 6 to 10 thousand rupees every month to the youth, who will get the benefit of ‘Ladla Bhai Yojana’
Where is Infosys’ income coming from
The share of financial services sector, which is the biggest contributor to Infosys’ revenue, declined by 0.3 per cent on a constant currency basis to 27.5 per cent. The share of retail segment fell by 3 per cent to 13.8 per cent, while the share of communication segment increased by 5.4 per cent to 12.1 per cent. The share of energy, utility, resources and services increased by 6.3 per cent to 13.3 per cent. Parekh said that the company is seeing improvement in financial services revenue in the US. Infosys’ revenue share from North America declined by 1.2 per cent, while it increased by 9.1 per cent in Europe, 19.9 per cent in India and 2.3 per cent in the rest of the world on a constant currency basis.
Also read : Mutual Fund: Do you want to gift mutual funds to your children? What is the right way and where to invest
Number of employees decreased by 6%, new appointments expected
In the June 2024 quarter, the company’s employee count fell by about 6 per cent to 3,15,332 from 3,36,294 a year ago. The number of employees in the previous quarter was 3,17,240, which is a marginal decline. The company has increased the employee utilization level from 78.9 per cent to 83.9 per cent on a year-on-year basis. Infosys Chief Financial Officer (CFO) Jayesh Sanghrajka said, “Our utilization is already at 85 per cent. So now we have very little scope left. So as soon as we start seeing growth…we are looking at hiring 15,000 to 20,000 new people this year…it will depend on how we see the growth.”
/financial-express-hindi/media/media_files/UFH5nkMyFKiXwsyNsET3.jpg&description=Infosys%20Q1%20FY25%20Result%3A%20Infosys%20expects%2015-20%20thousand%20new%20recruitments%2C%20net%20profit%20increased%20by%207%25%2C%20revenue%20guidance%20also%20improved){kind=link}