Infosys’ net profit quarter-on-quarter fell 20% from ₹7,969 crore in the January-March quarter.
| Photo Credit: Reuters

IT major Infosys Ltd on Thursday (July 18, 2024) reported a 7% rise in first quarter net profit and raised its growth outlook for the current financial year.

The consolidated net profit of Infosys increased to ₹6,368 crore in the April-June quarter, compared to ₹5,945 crore in the same period a year back, according to a stock exchange filing by the company.

Quarter-on-quarter the company’s net profit fell 20% from ₹7,969 crore in the January-March quarter.

For the current fiscal year, it raised revenue growth guidance to 3% to 4% in constant currency terms.

“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,” said Salil Parekh, CEO and MD.

“With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities,” Mr. Parekh added.