Infosys has posted its Q1 2017 financial results reporting a 6% year over year growth. The results were announced as part of its first quarter which ended on the 30th of June.
The results highlighted a growth in revenues of 3.2% in USD, and a 2.7% rise in constant currency over the last quarter. The company generated $2,651m in revenue by the end of Q1.
This led to an overall year over year revenue growth of 6.0% whilst net profit was $541m for the quarter, a 0.4% decline for the quarter over quarter, but a 5.8% year over year growth. For the Q1 quarter the company reported an operating profit of $638m, a growth of 0.7% over the previous quarter and a 6% growth year over year.
“Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts– revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results. I am encouraged by the uptick in revenue per employee for six quarters in a row, and the strong momentum in our new high growth services and software, as we accelerate our focus on innovation-led growth.” said Dr. Vishal Sikka, CEO.
“The widespread adoption of our grassroots innovation and education initiatives continue to fuel our transformation, and I am proud to see Infoscions embrace and drive Infosys toward becoming a next generation services company.”
Infosys provides business IT services in the fields of automation through digital services, a cloud ecosystem, big data and analytics, cyber security, and Internet of Things engineering software in over 50 countries.
The company has been working with the likes of Amazon Web Services and has launched the Boundaryless Data Lake offering, powered by the Information Grid Solution.
Other work has seen the company partner with Levi Strauss & Co to build a first party data analytics solution on AWS. “The solution, built by Infosys, enables consumer insights of clickstream and e-commerce data to activate consumer revenue growth actions across marketing touch points,” said Abigail Johnson, Senior Program Manager eCommerce, Levi Strauss & Co
The company has also been pushing forward with its artificial intelligence strategy by launching Infosys Nia in April. The company said that there has already been over 160 engagements with over more than 70 businesses.
“We had broad-based growth across geographical and industry segments. Our initiatives on operational discipline led to record levels of utilization and better realization during the quarter.” said U B Pravin Rao, COO. “Our new services and software offerings are helping us strengthen our positioning in the market.”