IT services giant Infosys Ltd. (NYSE: INFY) reported revenue rose 3.2% in US dollars in its fiscal second quarter ended Sept. 30. The company also revised upward its revenue forecast for the full year.
“The strength and resilience of Infosys was fully visible in Q2 with operating metrics witnessing a healthy increase, broad-based growth, highest ever large deal [total contract value] at $3.15 billion and attrition reducing to single digits,” COO Pravin Rao said.
| (US$ millions) | Q2 2021 | Q2 2020 | % change | % constant currency |
| Revenue | $3,312 | $3,210 | 3.2% | 2.2% |
| Gross profit | $1,187 | $1,070 | 10.9% | |
| Gross margin percentage | 35.8% | 33.3% | ||
| Net profit | $653 | $569 | 14.8% |
Gross margin improved and net profit increased at the Bengaluru, India-based company.
“Employees have been a critical part of our success,” Rao said. “As a recognition of their stellar performance, we are giving 100% variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective Jan. 1st.”
Guidance
Infosys forecast full-year revenue will be up 2% to 3% in constant currency.
Share price and market cap
Shares in Infosys set a new 52-week high during Tuesday’s trading session in India. The company had a market cap of 4.91 trillion rupees (US$66.90 billion).