The city-based firm posted a net profit of Rs 2,886 crore for the quarter ended on June 30 this fiscal against a net profit of Rs 2,374 crore in the year-ago period. Challenges in working with Indian PSUs: Infosys CEO: (Agencies)
Consolidated revenue for the reported quarter were up 13.3 percent to Rs 12,770 crore from Rs 11,267 crore in the same quarter of 2013-14 fiscal.
Commenting on the performance, Infosys' outgoing CEO and Managing Director SD Shibulal said, "We continue to enjoy the confidence of our clients by demonstrating superior execution capability and value realization."
However, Infosys' employee attrition hit a record high of 19.5 percent in the April-June quarter of 2014-15 fiscal from 16.9 percent in the year-ago period, signalling that the internal woes of the country's second largest IT services firm are not yet over.
The firm has witnessed a spate of exits of its top level executives since June last year when co-founder NR Narayana Murthy was called back from retirement to put the firm back on a growth trajectory.
Commenting on attrition, Infosys COO U B Pravin Rao said, "Employee attrition rates are worrisome and we are implementing various initiatives to retain good talent."
For 2014-15, Infosys retained its conservative revenue guidance of 7-9 percent in USD terms and 5.6-7.6 percent in rupee terms, much below Nasscom's industry growth outlook at 13-15 percent in dollar terms.
In US dollar terms, its consolidated net profit rose 15.3 percent to USD 482 million in the April-June quarter of this fiscal, while revenues rose 7.1 percent to USD 2.13 billion during the period.
Infosys shares were trading at 1.01 percent, up Rs 3326 apiece on BSE in the afternoon session. The Sensex was trading lower by 0.61 percent at 25,218.40.
Faced with challenges in the public sector, country's second largest software services firm Infosys on Friday said it may see slower pace of growth in its India business revenues as it refocuses on its strategy.
"We entered India with certain strategic priorities only three years back. We have certain challenges in working with public sector bodies in Indian government. So we are refocusing our India business here.
"We will continue to focus here, India is strategic place to us, but it needs a little more pace," Infosys CEO and Managing Director SD Shibulal said.
For April-June quarter of 2014-25, India region accounted for 2.4 percent of the company's total revenues of Rs 12,770 crore. In the January-March quarter of 2013-14, it was higher at 2.6 percent of the total revenues of Rs 12,875 crore for the period.
North America, which accounts for the lion's share of most of India's software exports firms, accounted for 60.8 percent of Infosys' revenues during the quarter. Europe contributed 24.5 percent of the quarter's revenues, while Rest of World accounted for 12.3 percent.
The city-based firm posted a net profit of Rs 2,886 crore for the quarter ended on June 30 this fiscal against a net profit of Rs 2,374 crore in the year-ago period.
Challenges in working with Indian PSUs: Infosys CEO: