Infosys’ sequential growth sputters despite digital boost and large deals

Infosys posted a lower net profit in the June quarter of FY20, at Rs. 3,798 crore (down 6.8 per cent sequentially), despite robust growth in digital revenues. Revenues rose marginally by 1.23 per cent to Rs. 21,803 crore as the company’s core offerings saw revenue remain flat.

In dollar terms, digital revenue ($ 1.12 billion) grew by 8.6 per cent sequentially while core revenues fell 0.64 per cent to $2.01 billion. Most of the growth in revenues came from communication and energy business segments in constant currency terms, with the former growing 4.6 per cent and the latter 4.74 per cent.