India’s second-largest IT company by market cap, Infosys posted its September quarter (Q2FY22) results on Wednesday, 13 October 2021.
Infosys’s consolidated revenues (topline) stood at ₹29,602 crore, up 6.1% quarter-on-quarter. The company’s operating margins stood at 23.6%, nearly similar to that of the previous quarter. Its consolidated net profit stood at ₹5,428 crore, up 4.4% quarter-on-quarter.
The Financial Services segment, which contributes one-third of the total revenues of Infosys saw a year-on-year growth of 22%.
As far as geographical growth is concerned, North America and Europe witnessed strong growth.
Due to increasing demand for digitalization and strong growth outlook, Infosys revised its growth guidance from 14-16% to 16.5-17.5%.
The company’s attrition rate—the rate at which the employees leave—stood at 20%, up from 14% in the previous quarter, which shows attrition has increased at a faster rate than expected.
Infosys’s share price rose 1.5% this week ahead of the results. Tech giant and industry leader, Tata Consultancy Services also posted its quarterly results this week. Infosys’s 6.1% revenue growth looks strong as compared to TCS’s revenue growth of 3.2%, and this is most likely to attract investors interest.