Market Updates
Infosys Net Margin Drops On Higher Talent Costs
Anand Sheth
24 Jul, 2022
Mumbai
Infosys said operating margin in the latest quarter dropped on the rising talent cost.
Total revenues in the first quarter ending in June increased 23.6% to 34,470 crore rupees.
Revenues on a sequential basis increased 6.8% from the previous quarter and rose 5.5% in constant currencies.
In the U.S. dollar terms, revenues increased 17.5% from a year ago to $4.44 billion.
Digital revenues accounted for 61.0% of total revenues in the period.
Operating margin in the quarter fell to 20.1%, a decline of 3.6 percentage points from a year ago and 1.4 percentage points from the previous quarter.
Net income after tax increased to 5,362 crore rupees from 5,201 crore rupees a year ago.
Net income in the U.S. dollar fell to $689.0 million from $704.0 million a year ago.
About 95.2% of the net income was free cash flow
Diluted earnings per share rose to 12.78 rupees from 12.21 a year ago.
Diluted earnings per share in the U.S. dollar fell to 16 cents from 17 cents a year ago.
The information and business services provider added a net 21,171 employees in the quarter.
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