Infosys Ltd has announced their Q1 results of the ongoing financial year and the figures have crossed the expectations set before the announcements. According to the announced results, Infosys registered a profit of ₹3483 crores, which was 3% lower to the profit earned last year in the same time. However, the analysts had expected the profit to be around ₹3429 crores.
The company announced a dollar revenue growth of 3.2 percent in the same quarter. Dollar revenue growth was expected to be at 2.6 percent in the given time period. Figures of constant currency growth too beat the expectations and registered a figure of 2.7 percent, against an expected mark of 2 percent.
Speaking at the announcement, Vishal Sikka, CEO Infosys hailed the results and stated that the growth was a result of their broad-based performance on various verticals. He also added that the average revenue per employee has grown for 6 quarters in a row. He also added that Infosys is trying to turn its focus on innovation-led growth and the same will be accelerated in the coming quarters.
₹Shares of Infosys opened on a positive note on Friday. At the time of writing this post, Infosys was trading at ₹985.20 per share with an increase of 8.15 (0.83%).