Infosys net profit slips 2.2% in Q2, revenue up

Bengaluru: 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.

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 that 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.