Infosys Reports Higher Profits and Revenue Growth in April-June 2024 Quarter
Infosys, a major IT services company, reported a 7.1% increase in net profit for the April-June 2024 quarter, reaching Rs 6,368 crore. In the same quarter of 2023, the net profit was Rs 5,945 crore. The company’s revenue grew by 3.6% to Rs 39,315 crore from Rs 37,933 crore.
The company’s Board approved the audited consolidated financial results and its subsidiaries today. We had an excellent start to FY25 with strong and broad-based growth, operating margin expansion, robust large deals, and highest ever cash generation. This is a testimony to our differentiated service offerings, enormous client trust, and relentless execution,
said Salil Parekh, CEO and MD of Infosys. 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,
Parekh added.
Jayesh Sanghrajka, CFO of Infosys, said the company generated the highest ever free cash flow (FCF) at USD 1.1 billion and the return on equity (ROE) increased to 33.6% due to higher payouts to investors.
Infosys has completed the acquisition of in-tech, a leading Engineering R&D services provider focused on the German automotive industry. This follows the announcement the company made on April 18, 2024. The entire shareholding in in-tech Group India Private Limited, a step-down subsidiary of in-tech Holding GmbH, will be acquired by Infosys Limited.
Infosys had launched Infosys AsterTM – a set of AI-amplified marketing services, solutions, and platforms that deliver engaging brand experiences, enhanced marketing efficiency, and accelerated effectiveness for business growth. With over 300,000 human resources, Infosys enables clients in more than 56 countries. Infosys had a voluntary attrition of 12.7% in the June quarter against 17.3% in the same quarter last year.
Doubts Revealed
Infosys -: Infosys is a big company in India that helps other companies with their computer and technology needs.
IT services -: IT services are jobs that help with computers and technology, like fixing problems or making new software.
net profit -: Net profit is the money a company makes after paying all its costs and expenses.
Rs 6,368 crore -: Rs 6,368 crore is a way to say a very large amount of money in India. One crore is 10 million rupees.
revenue -: Revenue is the total money a company makes from selling its products or services before taking out costs.
CEO -: CEO stands for Chief Executive Officer. This person is the boss of the whole company.
CFO -: CFO stands for Chief Financial Officer. This person takes care of the company’s money and finances.
free cash flow -: Free cash flow is the money a company has left after paying for its regular business activities and expenses.
acquisition -: An acquisition is when one company buys another company.
in-tech -: In-tech is a company from Germany that helps make cars and other vehicles better with technology.
Infosys AsterTM -: Infosys AsterTM is a new service from Infosys that uses artificial intelligence (AI) to help companies with their marketing.
AI-driven marketing service -: AI-driven marketing service uses smart computer programs to help companies advertise and sell their products better.
