Infosys Q1 Review - Revenue Beat, Margins Below Expectations; Upgrade In Revenue Guidance: Axis Securities
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Axis Securities Report
Infosys Ltd.'s Q1 FY22 revenue stood at Rs 27,896 crore up 6% QoQ and 4.8% QoQ in constant currency terms.
Operating profit stood at Rs 6,603 crore, reporting a growth of 2.5% on a QoQ basis while operating margin de-grew by 80 basis points QoQ and stood at 23.7%.
The de-growth was largely on account of the impact of wage hikes and higher subcontracting costs.
Net profit for Q1 FY22 stood at Rs 5,201 crore, registering a growth of 2.3% QoQ.
The company's management has revised revenue growth guidance for FY22 to 14%-16% (from 12-14% earlier) in constant currency terms and operating margin in the range of 22%-24% aided by a strong deal pipeline and robust demand.
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