Infosys Q2FY20 Results: IT major posts 5.8 pct growth in profit, income grows 3.8 pct to Rs 22,629 cr
Infosys Q2FY20 Results: Tech giant Infosys declared the second quarter results for FY2019-20 on Friday afternoon. The IT major announced 5.8 per cent growth in its profit while the income grew by 3.8 per cent in the same period.
Infosys Q2FY20 Results: Tech giant Infosys declared the second-quarter results for FY2019-20 on Friday afternoon. The IT major announced 5.8 per cent growth in its profit while the income grew by 3.8 per cent in the same period. Infosys announced Rs 4,019 crore profit in Q2FY20 while in Q1FY20, it had logged 3,789 crore profit. In Q2FY20 results, Infosys has informed Rs 22,629 crore income which was at Rs 21,803 crore in Q1FT20.
Key highlights of Q2FY20 Infosys results:
Speaking on the Q2FY20 Infosys results Salil Parekh, CEO and MD at Infosys said, “Our performance was robust on multiple dimensions – revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition. All these are clear signs that we are progressing well in our journey of client-centricity and maximizing value for our stakeholders.”
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On EBITDA, Infosys Q2FY20 says that the IT company has posted EBITDA in Q2FY20 at Rs 4,912 crore which was at Rs 4,471 crore in Q1FY20. The company has posted 9.9 per cent growth in EBITDA. On margins, the Infosys board has informed that in Q2FY20, the IT company has 120 bps positive change as its Q2FY20 margin numbers are 21.7 per cent which was standing at 20.5 per cent in Q1FY20 results.
Pravin Rao, COO at Infosys said, “Q2 witnessed another quarter of all-round growth in industry segments and geographies which is a testimony to our strong credentials and client relevance. Large deal wins were $2.8 bn. We are especially pleased by the reduction in attrition driven by our focus on an enhanced employee value proposition.”
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Speaking on the Q2FY20 results impact on the Infosys counter Prakash Pandey, MD & CEO at Plutus Advisors said, "Q2FY20 Infosys results are good for the markets as the company has managed to showcase its good financial health. From stock point of view, the Infosys share price may show 850-860 per stock levels in short-term. Any dip in the counter at around Rs 790-800 should be seen as a buying opportunity."
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