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Infosys Q2 results: Net profit jumps 20.5% YOY, the company to roll out salary hikes, promotions for all levels

   Infosys is also providing 100% variable pay with special incentive for Q2.

Infosys on Wednesday figured out a 20.50 per cent year on year rise in net profit at Rs 4845 crore for the quarter ended september 30. Last year the figure was Rs 4019 crore in the corresponding quarter. 

Infosys revised its revenue growth guidance upward to 2-3 per cent in the constant currency terms of the financial year 2021. The company also changed its operating margin upward to 23-24 per cent. 

Infosys Managing Director and CEO Salil Parekh said that the increase in revenue and margin outlook for financial year 2021 is due to the continuous trust shown by clients in us. 

In dollar terms, the revenue of the company increased by 3.2% year on year and 6.1 per cent quarter on quarter to $3, 312 million. 

Operating profit stood at $840 million, up 20.7 per cent Year on Year and 18.7 per cent Quarter on Quarter. The basic EPS increased 14.90 per cent Year on Year and 17 per cent Quarter on Quarter to $0.15. 

Consolidated revenue of the company grew 8.60 per cent Year on Year to Rs 24,570 crore. The company has also announced an interim dividend of Rs 12 per share.

The company CFO Nilanjan Roy said, “our consistent efforts to strengthen operational efficiencies and cost optimization aided by few cost deferrals led to the improvement in operating margins.

Read Also: Apple cuts older iPhone prices after launch of iPhone 12 series

The company COO Pravin Rao said,

“employees have been a critical part of our success. As a reward of their sterling performance, we are offering 100% variable pay together with a special incentive for Q2. Also, we are rolling out salary increases and promotions across all levels effective January 1.”

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