Infosys weathers global macro headwinds

IT major Infosys posted a 6.2 per cent rise in consolidated net profit in the September quarter at ₹4,073 crore compared to the quarter ended June, helped by good performance of financial services, manufacturing and energy, and utility segments. The company seems to have weathered the global macro-economic slowdown with revenues growing 3.8 per cent quarter-on-quarter to ₹22,629 crore helped by growth in Europe and North America.

The company reported earnings before interest and tax (EBIT) margins of 21.7 per cent during the quarter compared to 20.5 per cent in the June quarter. This is near the middle of its 2019-20 margin guidance of 21-23 per cent. During the quarter ended September, Infosys won $2.8 billion worth of projects compared to $ 2.7 billion in the June quarter. Infosys upped the lower band of its revenue growth guidance to 9-10 per cent from 8.5-10 per cent.