Infosys Q1 profit at Rs 4,233 crore, FY21 constant currency revenue growth seen at 0-2%

Date – 15/07/2020

Infosys expects its constant currency revenue growth in the range of 0-2 percent for FY21. Deal wins for the June quarter stood at $1.7 billion against $1.65 billion in the previous quarter.

IT services company Infosys on July 15 reported a 2 percent decline in June quarter profit at Rs 4,233 crore, ahead of a CNBC-TV18 analysts' poll that had pegged the number at Rs 3,950 crore, on strong operating performance, as the company surprised the street by giving full-year constant currency revenue growth guidance.

Revenue from operations increased 1.7 percent sequentially to Rs 23,665 crore in the June quarter and dollar revenue fell 2.4 percent quarter-on-quarter to $3,121 million for the quarter (against CNBC-TV18 analysts' estimates of Rs 23,000 crore and $3,038 million, respectively).

Constant currency revenue for the quarter fell 2 percent on a sequential basis, which was much better than street estimates of 5 percent decline QoQ.

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