BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Infosys Ltd reported strong broad based growth in Q1 FY21, revenue stood at Rs. 23,665 crores up 8.5% YoY and 1.5% QoQ. Operating profit showed a growth of 20% YoY at Rs. 5,365 crore, operating margin grew by 222 basis points at 22.7% than previous quarter aided by strong execution, lower utilisation and lower travel cost. Net profit for Q1 FY21 stood at Rs.4,233 crore reported a growth of 11.5% YoY. Infosys management guided for 0%-2% revenue growth in Constant Currency terms for FY21 and operating margin will be in the range of 21%-23%.
We believe Infosys has a resilient business structure from a long term perspective and multiple long term contracts with world’s leading brands. With depreciation in Indian Rupee, lower travel cost, lower on site expenses - Ebitda margins likely to expand in near term.
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