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Infosys Boosts FY25 Revenue Growth Forecast After Q1 Profit Rise

Jul 18, 2024 1 min read

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Infosys, India's second-largest IT services firm, reported a 7.1% year-on-year increase in net profit for the first quarter of FY25, amounting to Rs 6,368 crore. The company also saw a 3.6% rise in consolidated revenue from operations, reaching Rs 39,315 crore for the April-June quarter. This growth was driven by a recovery in demand from clients in the financial services and manufacturing sectors. Infosys has revised its revenue growth forecast for FY25 to a range of 3-4%, up from the previous 1-3%.

The company's EBIT margin expanded to 21.1% for the quarter, up by 100 basis points from the previous quarter. Total Contract Value (TCV) for large deals during the quarter stood at $4.1 billion. Additionally, Infosys reported US Dollar revenue of $4,714 million, which is 3.3% higher than the March quarter and above the estimated $4,665 million. The firm's voluntary attrition rate increased slightly to 12.7% from 12% in the previous quarter. Following the earnings announcement, Infosys shares ended 1.93% higher on the Bombay Stock Exchange (BSE) at ₹1,764.5.

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