Infosys stock holds steady as investors wait for Q2FY22 financial performance

Apart from Q2 results, Infosys board of directors will consider and approve interim dividend for the fiscal FY22, if any.

Oct 13, 2021 10:10 IST India Infoline News Service

Infosys
Infosys stock traded between flat to nearly 1% upside on Wednesday as investors await the company's earnings for the quarter ending September 2021 (Q2FY22). Infosys will be in focus today.

In the early deals, Infosys touched an intraday of Rs1700 per piece soaring by 0.9% on Sensex so far. At around 10.53 am, Infosys was trading at Rs1692.60 per piece up Rs7.80 or 0.5% on the same index.

During the Q2FY22, Infosys is expected to log double-digit growth in the top-line front, however, margins are seen to contract. Daimler deal, strong seasonality, consistent adoption of digital transformation by clients and healthy performance across verticals - are likely to be major drivers of the quarter. Infosys is expected to increase its revenue guidance going forward.

Apart from Q2 results, Infosys board of directors will consider and approve interim dividend for the fiscal FY22, if any.

In Q1FY22, Infosys reported a consolidated net profit of Rs5,195cr rising by 22.7% from Rs4,233cr a year ago same period. Consolidated revenue was at Rs27,896cr in the quarter under review, increasing by 17.9% yoy and 6% QoQ. The company delivered a strong Q1 performance with year on year growth accelerating to 16.9% and sequential growth increasing to 4.8% in constant currency. Large deal flows remained strong with TCV of $2.6 billion in Q1. The operating margin for the quarter was robust at 23.7%, with Free Cash Flows growing by 18.5% year on year.

In the first quarter of FY22, the company has increased revenue growth guidance to 14%-16%.

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