Infosys net profit climbs to Rs 42.33 bn, beats profit estimates on large deal wins

Bengaluru-based IT major Infosys reported an 11.5% rise in net profit (year-on-year) to Rs 4,233 crore in the quarter that ended on June 30, 2020 – beating market expectations.

The company had reported Rs 3,798 crore net profit in the corresponding quarter last year.

However, on a sequential basis, the company dipped by 2% from Rs 4,321 crore in March 31, 2020.

The company’s revenues also surged 8.5% to Rs 23,665 crore from Rs 21,803 crore in the corresponding quarter last year.

Buoyed by a huge 8.5% dip in its operating expenses, the company’s margins improved on a sequential basis by 150 basis points (bps) to 22.7%.