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India’s second-largest software exporter Infosys on Thursday reported a 5% rise in its consolidated net profit from a year-ago Rs. 6,212 crore in the second quarter compared to Rs. 6,506 crore was reached. The company revised its FY25 revenue guidance to 3.75%–4.5%. The upward revision of revenue guidance for the financial year comes on the back of a ramp-up of mega deals. Earlier, the company had guided for revenue growth of 3-4% for FY25.
Revenue from operations in the second quarter rose 5% year-on-year (YoY) to Rs. 40,986 crores.
Revenue for the quarter grew 3.3% YoY and 3.1% QoQ in constant currency terms. Operating margin, meanwhile, saw a marginal decline of 0.1% YoY and was flat QoQ.
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Operating margin for the quarter was supported by continued gains in value-based pricing and utility despite higher employee payouts.
Meanwhile, IT major Wipro reported a 21% rise in net profit for the quarter ended September 2024 to Rs. 3,209 crore was recorded against Rs. 2,646 crore was recorded. This figure is compared to ET Now’s Rs. 3,050 crore was higher than the estimate.
Income from operations in the reported quarter stood at Rs. 22,302 crore, as against the Rs. 22,516 crore is marginally lower than Rs.
Total income Rs. 22,300 crore ($2,662.6 million), an increase of 1.5% QoQ and a decline of 1% YoY. IT Services segment revenue was $2,660.1 million, up 1.3% QoQ and down 2% YoY. Non-GAAP2 constant currency IT Services segment revenue increased 0.6% QoQ and decreased 2.3% YoY.
“We expect revenue from our IT Services business segment to be in the range of $2,607 million to $2,660 million,” Wipro said in a company statement while spelling out estimates for the quarter ending December 31, 2024. This (-) 2.0% to 0.0% in constant currency.
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