In­fosys: Fir­ing on all cylin­ders

The Hindu Business Line - - STOCK CALLS -

In­fosys de­liv­ered ro­bust num­bers in the third quar­ter and re­vised its guid­ance for FY19 higher. The open mar­ket buy­back of shares at a max­i­mum of

₹800 a piece comes as the ic­ing on the cake. On a year-on-year (Y-o-Y) ba­sis, the com­pany re­ported a dou­ble-digit growth of 10.1 per cent, on a con­stant cur­rency ba­sis in dol­lar terms, after a gap of 10 quar­ters. In the third quar­ter, the rev­enues rose 2.2 per cent se­quen­tially in dol­lar terms (2.7 per cent in con­stant cur­rency). In­fosys’ op­er­at­ing mar­gin of 22.6 per cent is healthy and in line with its pre­ferred band of 22-24 per cent.

Rev­enue from dig­i­tal of­fer­ings grew by a ro­bust 33.1 per cent Y-o-Y and ac­count for 31.5 per cent of the over­all pie, up from 26 per cent in the same pe­riod last year. The fi­nan­cial ser­vices ver­ti­cal, which ac­counts for 32.5 per cent of In­fosys’ rev­enues, grew at a healthy 3 per cent se­quen­tially, faster than the over­all rev­enue rate. Man­u­fac­tur­ing and en­ergy and util­i­ties seg­ments grew at a faster clip.

VENKATASUBRAMANIAN K

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