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Technology / Hardware

Infosys reports 3.7% rise in Q1 net profit

Infosys reported a 3.7% rise in its net profit during the first quarter of 2013, to INR23.74bn ($396.9m).

Revenues of the Indian IT firm grew 17.2% year-on-year to INR11.2bn ($1.88bn) and 7.8% quarter-on-quarter.

Infosys CFO Rajiv Bansal said that the company has maintained its margins and continued making investments in the business.

"We have announced compensation increases for FY 14 effective July which will affect our margins in the future quarters," Bansal said.

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During the quarter, Infosys’ customers in sectors including banking, financial services and insurance sectors were responsible for 33.7% of revenues, while clients in manufacturing attributed for 22.5% of the overall sales.

Infosys applied for 18 unique patent applications in India and the US during Q1, which brings its overall patent applications to 528 undergoing various stages in the patent approval process in India, the US and other jurisdictions.

The IT firm’s BPO revenues reached $127.26m in Q1 over $125.69m generated during the corresponding quarter the earlier year and has employed around 10,138 employees (net addition of 575).

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CBR Staff Writer

CBR Online legacy content.