Infosys Q2 net up 11% at `6,021 cr

Bengaluru: Infosys posted a strong performance for the second quarter with an optimisticoutlook on revenues for ongoing fiscal year though operating margin guidance wastampered down. India's second largest IT services firm, which outperformed rivals TCS and Wipro inrevenue growth term on the back of large deal wins, also announced plans to buyback shares worth Rs 9,300 crore through open market route.

Infosys posted a net profit of Rs 6,021 in Q2, a rise of 11 per cent from Rs 5,421core reported in the same quarter of the previous year. Revenue rose to Rs 36,538crore, clocking a 23.4 per cent growth over the same period last year. In constantcurrency term, revenue grew by 4 per cent over the previous quarter to $4.55 billion. The company had the highest large deal wins in last seven quarters worth $2.7billion. It maintained that despite some softness in demand, company's deal pipelineremained robust.

On the back of sound large deal pipeline, the company raised the lower end of itsrevenue guidance to 15-16 per cent for FY23 as compared to 14-16 per cent earlier.

"While concerns around the economic outlook persist, our demand pipeline is strong.Along with digital side of business, even we have seen improvement in our corebusiness during this quarter. Also, revenue from our cloud segment has nowreached more than $1 billion. Keeping in mind the large deal momentum and macrofactors, we narrowed our revenue guidance to 15-16 per cent," said CEO &MD ofInfosys, Salil Parekh.