Infosys (NYSE: INFY) Announces Results for the Quarter Ended September 30, 2018 (1)

Publicado 16/10/2018 14:55:13CET

BENGALURU, India, October 16, 2018 /PRNewswire/ --

Broad-based Growth and Digital Resulted in a Strong Q2 19  

"We are delighted with our broad-based growth across all business segments and geographies during the quarter. This is a testimony to our strong client relationships, digital led full service capabilities, and intense focus on the needs of our clients," said Salil Parekh, CEO and MD. "Large deal wins at over $2 billion during the quarter demonstrate our increased client relevance and also give us better growth visibility for the near-term."

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- $2 Bn+ Large deal signings in Q2 19 - 4.2% Q2 19 QoQ revenue growth in CC terms - 31.0% Digital revenue share in Q2 19 - 7.1% H1 19 YoY revenue growth in CC terms - 23.7% Operating margin in Q2 19 - Q2 19 revenues grew year-on-year by 7.1% in USD terms; 8.1% in constant currency terms - Q2 19 revenues grew sequentially by 3.2% in USD terms; 4.2% in constant currency terms - Digital revenues at $905 million (31.0% of total revenues), year-on-year growth of 33.5% and sequential growth of 13.5% in constant currency terms - H1 revenues grew by 6.9% in USD terms; 7.1% in constant currency terms - Operating margin 23.7%, at higher end of guidance range - Q2 19 Basic EPS grew year-on-year by 5.7% in USD terms - Large deal wins crossed $2 billion - Declared interim dividend of ?7 per share (approximately $0.10 per ADS*) - FY 19 revenue guidance in constant currency retained at 6%-8%; Operating margin guidance retained at 22%-24%

*USD/INR exchange rate as of September 30, 2018 

1) Financial Highlights- Consolidated results under International Financial Reporting Standards (IFRS)

-- For the Quarter ended September 30, 2018 

- Revenues were $2,921 million, growth of 7.1% YoY and 3.2% QoQ - Net profit was $581 million, growth of 0.5% YoY and 8.8% QoQ - Basic EPS was $0.13, growth of 5.7% YoY and 8.8% QoQ

-- For six months ended September 30, 2018 

- Revenues were $5,753 million, growth of 6.9% YoY - Net profit was $1,116 million, decline of 0.3% YoY - Basic EPS was $0.26, growth of 4.8% YoY

"We had another quarter of solid operating parameters with utilization being stable and offshore mix improving to all-time high," said U B Pravin Rao, COO. "Our Digital services grew double digits sequentially, while growth in top clients was also robust."

"Our unwavering focus on strong financial performance on multiple fronts continued to deliver results during the quarter. Operating margins for the quarter as well as for the half year was at 23.7%, near the top end of our guidance band," said M.D. Ranganath, CFO. "Operating Cash Flow was over $1 billion during the first half of the year and ROE was at 24.7%. We will continue to make strategic investments in digital to leverage opportunities and at the same time keep sharp focus on key operational efficiency parameters."

  2. Bonus issue of equity shares 

The Company has allotted 2,18,41,91,490 fully paid up equity shares of face value ?5/- each during the three months ended September 30, 2018 pursuant to a bonus issue approved by the shareholders through postal ballot. The bonus shares have been issued to celebrate 25th year of public listing in India and to further increase the liquidity of its shares. Bonus share of one equity share for every equity share held, and a bonus issue, viz., a stock dividend of one American Depositary Share (ADS) for every ADS held, respectively, has been allotted. Consequently, the ratio of equity shares underlying the ADSs held by an American Depositary Receipt holder remains unchanged.   3. Acquisitions 

- On September 7, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) entered into a definitive agreement to acquire 60% stake in Trusted Source Pte Ltd (a wholly owned subsidiary of Temasek Management Services Pte. Ltd.), a Singapore-based IT services company for a total consideration of upto SGD 12 million (approximately $9 million), subject to regulatory approvals and fulfillment of closing conditions. - On October 11, 2018, Infosys Consulting Pte Limited (a wholly owned subsidiary of Infosys Limited) acquired 100% of voting interests in Fluido Oy (Fluido), a Nordic-based salesforce advisor and consulting partner in cloud consulting, implementation and training services for a total consideration of upto Euro 65 million (approximately $75 million), comprising of cash consideration of Euro 45 million (approximately $52 million), contingent consideration of upto Euro 12 million (approximately $14 million) and retention payouts of upto Euro 8 million (approximately $9 million), payable to the employees of Fluido over the next three years, subject to their continuous employment with the group. The payment of contingent consideration to sellers of Fluido is dependent upon the achievement of certain financial targets by Fluido.

  4. Update on arbitration proceedings 

On September 17, 2018 the Arbitral Tribunal of Hon'ble Justice R.V. Raveendran (retired) communicated the decision with regard to the dispute between Infosys Ltd. and its former CFO Mr. Rajiv Bansal. The Company has received legal advice and will comply with the award and make the necessary payments.   5. Shareholder visit to Mysuru campus 

Shareholders of the Company are being offered an opportunity to visit the Company's campus in Mysuru on November 24, 2018. Shareholders who would like to avail this opportunity need to register at http://www.infosys.com  between October 25, 2018 and November 15, 2018. As the number of shareholders the company can host on this visit are limited, shareholders will be accommodated on a first come, first serve basis. This visit is for shareholders only, and is not extended to family and friends. This follows several requests made by shareholders to visit the Company campus. The Company will provide transport from its registered office in Electronics City, Bengaluru and incur all associated costs for this visit from Bengaluru to Mysuru.

About Infosys 

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 45 countries to navigate their digital transformation. With over three decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit http://www.infosys.com to see how Infosys can help your enterprise navigate your next.

Safe Harbor 

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