Infosys, IT giant in India has declared its quarter 1 result for 2024.It is the second largest IT services company in India. Infosys Q1 results 2024 are slightly good compared to previous year same period.
Infosys reported Profit After Tax (PAT) of ₹6,368 crore for the quarter 2024, which is like 7.1% increase compared to ₹5,945 crore in the same period last year.
The IT company’s bottom line dropped by 20.1 percent quarter-on-quarter, primarily due to a tax refund boost in the previous quarter.
As per Salil Parekh, chief executive officer and managing director “We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution,” He added, ‘Volume growth is positive after several quarters & in-tech acquisition boosted revenue guidance’.
Infosys Q1 results 2024
5 key factors
- ₹6,368 crore consolidated Profit After Tax (PAT) reported for the quarter ending June 30, 2024, which is increased by 7.1% which is compared to same period last year.
- Revenue from operations for the quarter reached ₹39,315 crore, a 3.6% rise from ₹37,933 crore in the corresponding quarter of the previous financial year.
- As Per Guidance of company for FY25, it anticipates a constant currency revenue growth of 3%-4%. The company also projected an operating margin ranging from 20% to 22% for the current financial year, according to its filing.
- Company reported dollar revenue of $4,714 million for the quarter, reflecting a 2.1% increase from $4,617 million in Q1FY24 and a 3.3% rise from $4,564 million in Q4FY24.
- The IT major’s attrition rate increased by 4.6 per cent in Q1FY2025 as compared year-on-year from Q1FY2024, as the total number of employees stood at 315,332 or 3.15 lakh as of the first quarter of 2025.
As per Money control this is likely driven Infosys’ changing hiring model as it looks to focus more on improving utilisation rate.
The total headcount for Q1FY25 stood at 315,332, down from 336,294 in Q1FY24. On a YoY basis, overall headcount reduced by 20,962.
The attrition rate for Q1 on the last twelve-month basis saw marginal increase to 12.7 percent, from 12.6 percent in the previous quarter.
Infosys loses 1,908 employees in Q1FY25, sixth consecutive quarter of decline
Analyst Expectations
Analysts were expecting the IT major to report up to 10 per cent rise in net profit on a muted single-digit growth in revenue.
Fundamentals and Technical of the company:
Infosys is a global leader in next-generation digital services and consulting,From a capital of US$250, we have grown to become a US$ 18.6 billion company.Established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 317k employees. From a capital of US$250, we have grown to become a US$ 18.6 billion (LTM Q4 FY24 revenues) company with a market capitalization of US$ 74.42 billion.
Infosys provides software development, maintenance and independent validation services to companies in finance, insurance, manufacturing and other domains. Its key products and services are: NIA – Next Generation Integrated AI Platform (formerly known as Mana) Infosys Consulting – a global management consulting service.
Infosys is fundamentally very strong company with good management.Current numbers are as mentioned below.
Market Cap₹ 7,30,510 Cr
Current Price₹ 1,759
PE 27.4
EPS₹ 64.2
After Infosys Q1 results 2024 when we see technical, currently its on all time high and break out can be expected as there is some good news on IT sector.
Conclusion
Q1 of Infosys seems to be good, but how does investor and retailer think about this will come to know in next trading day.As result is out after market hours , need to watchout for tomorrow.
As this is just information, please contact your financial advisor for buying advice.
FAQ
- What is Infosys stand for?
Infosys is combined form of word, information and system. So they named a software company with this name. Company is engaged in providing information technology, business consulting, and outsourcing services.
2. Who is CEO of Infosys?
currently its Salil Parekh. Infosys – Chief Executive Officer and Managing Director: Salil Parekh ( 2 Jan 2018).
3. Is Results are good for quarter 1?
We cannot say its outstanding, but its good compared to last year same time period.