Infosys Shares Hit 52-Week High as Q1 Profit Climbs 7% to Rs 6,368 Crore

Infosys' share price witnessed a surge of nearly 3 per cent in the morning trade session, hitting a 52-week-high, after the IT giant posted a 7 per cent increase in its consolidated profit at Rs 6,368 crore in the quarter ending June.

On a sequential basis, Infosys saw a 20 per cent drop in net profit, falling from Rs 7,969 crore in the previous January-March quarter. However, the company's consolidated revenue grew by 3.6 per cent, reaching Rs 39,315 crore as compared to Rs 37,933 crore in the same period last year.

At 10:35 am, the shares of the IT giant were trading at Rs 1,808 price level, up by nearly 2.86 per cent on the National Stock Exchange.

For the current fiscal year, Infosys has increased its revenue growth forecast to 3-4 per cent in constant currency terms, up from the earlier projection of 1-3 per cent.

Besides better-than-expected growth figures, the IT company also laid a robust hiring plan to take in 15,000-20,000 freshers depending on the growth during the year.

This comes at time when the IT company has reported a continuous decline in its headcount since March 2023 quarter.

"We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and the highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution," said CEO and MD Salil Parekh.

During the quarter, Infosys reported an operating margin of 21.1 per cent. For the current fiscal year, the company expects its operating margin to be between 20 per cent and 22 per cent.

"With our focused approach for generative AI for enterprises working with their data sets on a cloud foundation, we have strong traction with our clients. This is building on our Topaz and Cobalt capabilities," Parekh added.