Its revenue for the quarter under review stood at 236.65 billion rupees ($3.14 billion), up 8.5% from last year. It was mainly driven by digital revenues, which stood at $1.3 billion and contributed 44.5% to total revenue in this quarter. The company also signed deals worth $1.74 billion during the quarter.
Infosys CEO Salil Parekh said, “Our Q1 results, especially growth, are a clear testimony to the relevance of our service offerings and deep understanding of clients’ business priorities, which is resonating with them in these times. It also demonstrates the remarkable dedication of our employees and leadership during this period.” He said the company’s confidence and visibility for the rest of the year is improving “driven by our Q1 performance and large deal wins.”
Chief Financial Officer Nilanjan Roy said, “Operating margin expanded to 22.7% driven by preemptive deployment of our strategic cost levers along with the tactical opportunities triggered by the Covid situation. Collections were robust and capex was focused, which led to a 50% year on year increase in free cash flows. Our liquid and debt free balance sheet is a huge source of strength in these times.” The company said its voluntary attrition for IT services declined to 11.7% from 20.2% in the previous quarter.
