Business

Infosys net profit slips 2.2 pc in Q2

Software major Infosys on Friday reported 2.2 per cent decline in consolidated net profit for the second quarter (Q2) of fiscal 2019-20 to Rs 4,019 crore from Rs 4,110 crore in the same period a year ago.

migrator

Bengaluru

Sequentially, however, net profit rose 5.8 per cent to Rs 4,019 crore from Rs 3,798 crore from a quarter ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter grew 9.8 per cent year-on-year to Rs 22,269 crore from Rs 20,609 crore in the like period a year ago. Sequentially, revenue rose 3.8 per cent to Rs 22,269 crore from Rs 21,803 crore a quarter ago.

Under the International Financial Reporting Standards (IFRS), net income declined 2.1 per cent YoY to $569 million from $581 million a year ago, but rose 4.3 per cent sequentially from $546 million.

Gross revenue grew 9.9 per cent YoY to $3.210 million from $2,921 million a year ago and 2.5 per cent sequentially from $3,131 million a quarter ago.

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