Infosys Q2 result highlights: Net profit jumps to Rs 4,110 cr, dividend announced Infosys Q2 Results Highlights: The company said that it has witnessed a 'broad-based growth across all business segments and geographies during the quarter'. And then two quick housekeeping ones. Infosys Limited, Inc. (INFY) CEO Salil Parekh on Q2 2019 Results - Earnings Call Transcript Oct. 16, 2018 Infosys Limited, Inc. (INFY) CEO Salil Parekh on Q1 2019 Results - Earnings Call Transcript Infosys Q2 net profit up 20.5% at Rs 4,845 crore; raises revenue forecast for FY21 The Bengaluru-based company's revenues rose 8.5 per cent to Rs 24,570 crore in the quarter under review, from Rs 22,629 crore in the year-ago period. This transcript is provided as is without express or implied warranties of any kind. A complete statement and explanation of these risks is available in our filings with the SEC, which can be found on www.sec.gov. Number of visas currently at use of your employee base in the U.S. either net new or renewals that are — but just current number of employees out of your employee base that are subject to visas in the U.S.? Please go ahead. Quarter two revenues included only a marginal contribution from the Vanguard deal, which should start ramping up from quarter three onwards. For the year ending March 2020 Infosys has declared an equity dividend of 350.00% amounting to Rs 17.5 per share. Most of our delivery centers across the globe remaining closed, the vast majority of our employees are working effectively from home and we are making all efforts to ensure ease-of-work delivery in a secure manner. But in absolute, you’re right, the onsite offshore mix has helped the overall employee cost to come down. You did talk about how legacy is likely to kind of be taken out, the core gets modernized and therefore that trend of negative momentum that we have seen could continue, but we have seen in the last two quarters the pace of core decline accelerate. Nilanjan Roy — Chief Financial Officer. Top Searches. And over to you, sir. Thank you, and congratulations. I’ll answer the second one on the digital and cloud and the first — and the third, Pravin will come back. Did I heard you right when you said that the vendor consolidation is still something that you are in talks with the clients and we haven’t yet seen a new major lead or a relationship conversion so far. We did something in product design. Is that the right takeaway? All Rights Reserved. The feedback from clients remains positive and the dedication of employees is tremendous. So instead of sort of decoupling the Q2 number that would be the way to look at it as we look ahead. Quickly I’ll finish the cost optimization part. The net new in the total liabilities is 86%. Please go ahead. But really based on how you’re delivering projects today and how clients have become more accepting of virtual delivery, how should we think about the sustainability of some of the cost factors here as operations normalize? We don’t see any — there are no specific constraints from which we model it. Infosys declared interim dividend of ₹8 per share.Q2 revenues of Infosys grew 11.4% year-on-year in constant currency The next question is from the line of Nitin Padmanabhan from Investec. Over to you, Pravin. Free cash flow as a percentage of net profit was 103% for Q2 and 116% for H1. And you can see from our actions, we really make sure we addressed that absolutely fully. Hopefully, we keep up the execution and that sustains for us. So my sense is, many of those will play out over time, but we have seen some early benefit of it, but not a material benefit. And I’ll just throw a third question out there. I don’t think we’ve given this number out before, but I can tell you the year before that in the fiscal ’20, we gave — we had set our target of $150 million of savings, and we had overachieved against that number. Jet Fuel Price Hike. Yeah. Understood. Please go ahead. Consequently, we are increasing our interim dividend per share by 50 per cent to Rs 12." At the current share price of Rs 1265.50, this results in a dividend yield of 1.7%. Infosys Q2 results: Key highlights - The revenues totalled Rs 24,570 crore, marking a growth of 8.6 per cent y-o-y and 3.8 per cent q-o-q. So I think on the offshore perspective, if I got it right, you were suggesting that the — so far the offshore shift is travel restriction-based, but there could future offshore shifts based on the experience that we have seen so far. Thank you all for joining in the call. The next question is from the line of Keith Bachman from Bank of Montreal. And just lastly, the pandemic has clearly given you significant margin tailwind. Infosys share price live updates on The Economic Times. Equally, structurally, there is now more understanding of what are the possibilities and option. Okay. Cobalt is built with strong partnerships with leading SaaS, PaaS and infra-as-a-service companies across public, private and hybrid cloud environments. And that’s really given us the confidence to increase both the revenue and the margin guidance. So as long as we continue to grow and we continue to have a role to play, both in terms of core as well as in the digital spend, then I think we view it as a very positive thing. Infosys Q2 results: Net profit falls 2.2% to Rs 4,019 crore; board approves interim dividend Infosys also announced an interim dividend of Rs 8 per equity share. Two questions here. So cloud is definitely something that’s working very. As we continue to wait through the continuing complexity caused by the pandemic, our rock-solid focus on client relevance and employee well being is helping us navigate this challenge successfully. It’s finally — I mean, we have got a healthy mix of both renewals as well as net new in the mix. On the back of cost optimisation this interim dividend payout is a 50 per cent on year increase Get more Personal Finance News and Business News on Zee Business. So you can always see these ups and downs as well. Salil Parekh — Chief Executive Officer and Managing Director. I don’t know there will be an acceleration. In terms of the offshore, is there a natural limit, I think there is certainly an ability for more of the work to be done offshore. Tata Consultancy Services (TCS) has announced a special dividend and a second interim dividend amounting to a total dividend of Rs 45 per equity share, while Infosys has declared an interim dividend of Rs 8 per equity share. No, no. And first of all, congrats on excellent execution and excellent numbers. So they may have been — there may be some balancing there as well. We won 16 large deals in quarter two, out of it, six deals were in financial services, three deals in retail, two deals each in communication and high-tech and one deal each in energy utility resources services, manufacturing and others. We don’t anticipate it. Hi. So just the first one, quickly on RPP, the 100 bps is a combination of multiple factors. Yeah. Thanks a lot. While there are disruptions for segment, we are seeing opening up of pockets, although the pace of recovery may remain sluggish. In the past 12 months, Infosys Ltd. has declared an equity dividend amounting to Rs 21.50 per share. Thank you very much. Do you expect that kind of stabilize and go back to where it was pre-COVID as customers start to stabilize? One, obviously, it’s the combination of the market, but it’s also how we have reacted to the pandemic, the focus that we have put in terms of employee welfare, a lot of engagement with the employees in the virtual world. And within the IT spend, clients actually mix between core, I mean they will invest some in core, but they will also look at how to optimize core so that they can fund some of the newer technologies and some of the discretionary spend that they need to stay competitive. Thank you. Thanks, Margaret. Okay. Thank you everyone for joining this session. Firstly, while you have upgraded guidance, the second half implied guidance doesn’t look that strong, largely in line with the seasonality despite such strong deal wins, and there is a little bit contribution hopefully from the acquisitions as well. What was the growth rate of that year-over-year, is my first question. Overall operating parameters improved during the quarter, utilization, onshore delivery share, RPP and subcon costs. Our balance sheet remained strong with cash and investments positioned at $4.6 billion with no debt. Understood. We added 96 clients during the quarter, while the number of 100 million clients increased by sequentially to reach 30 at the end of quarter two. We did something in Salesforce, in Adobe. And then there are other areas, for example, on data, on experience, which are in good traction. Digital revenues grew at 25.4% year-on-year in constant currency and now accounts for 47.3% of our revenues. Please go ahead. The notification read, "Fixed October 26, 2020 as record date for interim dividend … I had two questions actually. I mean, these aren’t — specifically which addressable market you are thinking. Thank you. Based on the strong performance in H1, we are increasing our guidance on revenue for FY ’21 to 2% to 3% in constant currency terms from the previously announced 0% to 2%. I can take a shot at it. Thanks. Part of it, I think has been with the demand environment itself in a good shape specifically for these sorts of activities where the investments have come. But as Nilanjan explained, there were some specific reasons we are also quite focused on RPP, but we’re going to make sure over time we find a sustained method of doing it. Get detailed Infosys stock price news and analysis, Dividend, Bonus Issue, Quarterly results information, and more. In the past three years, we’ve launched six digital centers in the U.S. and hired over 13,000 U.S. workers. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. We haven’t, and we don’t mention the deal sizes. Hiring in subsequent quarter, quarter four will obviously be dependent on the growth. On vendor consolidation, there is discussion. The information technology (IT) services major had posted a profit of Rs 4,019 crore in the year-ago period. We’ll initiate the call with some remarks on the performance of the company by Salil, Pravin and Nilanjan on the most recently concluded the quarter before opening up the call for questions. such as mortgage servicing, call center technology and operations, lending services to cater to various government relief programs as well as pick-up of large digital transformation programs. Infosys Q2 Results: IT major's net profit up 20% at Rs 4,845 crore; key highlights. So have you factored in any potential second wave of pandemic coming in the end user market or do you think that this is something which could be over and above to what you will estimate to us? Yeah. So I’ll answer the first one. And then just as a follow-up. I also wish all Infoscions good health and also very good gesture by management of rewarding employees in line with world-class technology companies like Amazon. Neither the information nor any opinion expressed in this transcript constitutes a solicitation of the purchase or sale of securities or commodities. Hi, Kawal. Today we have considered a scenario which is based on how we’ve seen the trajectory move in the global economy in Q1 and Q2. We’ve generally modeled it from a view of what we’ve seen as a past view of the business plus the current deals that we have closed and the pipeline that we’re seeing, and we are seeing good traction all around, as we’ve described, and it’s a big change zero to two to two to three. Infosys’ free cash flows grew significantly in the first half, driven by its consistent focus on liquidity and cash management, said the company. Could you tell us how many of your employees are currently using visas in the U.S.? I think one is of course is a day’s impact during the quarter. Cobalt has 200 industry templates and 14,000 cloud components available to our clients for their cloud choice programs. the onsite pyramid as well. Infosys Q2 net profit up 20% at Rs 4,845 crore, revises FY21 revenue guidance - Infosys revenues totalled Rs 24,570 crore, marking a growth of 8.6 per cent y-o-y and 3.8 per cent q-o-q. ©2009-2020 Stock Infinities & Infinities Group. I said there is no way you can take the 23% to 24% as a sustainable number going forward. But like I said, discount always are not secular. “Our second quarter performance is a clear reflection of our ability to help clients on their digital transformation journeys. And now let me request Pravin to update you on our operations. Thanks, Salil. Chipmaker Micron Technology Inc. (NASDAQ: MU) reported strong earnings and revenue growth for the first quarter of 2021. I am asking this question is, our small competitors like EPAM and others in other geographies, they are growing probably at the same percentage at a much lower base, but they have this advantage of core not being hurting them. The Infosys logo (REUTERS) Infosys Q2 results: Net profit rises 21% to ₹ 4,845 crore, beats estimates 1 min read. Terms of Services. It’s — there are not obviously loads of them, but there is a decent number of them and there is a decent number of other sizes as well. Obviously, the IT spend is not increasing, so they are really funding this digital transformation initiatives by taking cost out from the core through automation and other means. So we’ve been very, very conscious that we need to get the stability in margins, which is why the 21% to 23% margin guidance was given in the prior two years. Client metrics remained strong. Thank you. And also has helped us to scale the work from home very rapidly in this COVID landscape, which has given increased trust with our clients. So we were $150 million, we exceeded that. We continue to get more and more productive and efficient for our clients. Looking ahead, we continue to see strong traction in our business. So let me focus on another topic here, which is headcount. Benefits from reduction in SG&A and other expenses were offset by increase in depreciation and amortization and cross-currency headwinds. Yield on cash balance improved to 6.33% in Q2 compared to 6.11% in the previous quarter. Written By: ZeeBiz WebTeam. Our industry-leading performance over the first half of this year has been due to the immense commitment of our over 240,000 employees. And I’ll cede the floor. Did you just say that the renewals — renewal rates for bookings was I think 14% for the quarter, which is actually very good in terms of incremental new business? Thank you. We increased our revenue guidance for the full year from 0% to 2%, moving it to 2% to 3% growth in constant currency year-over-year. The next question is from the line of Kawaljeet Saluja from Kotak. The notification read, "Fixed October 26, 2020 as record date for interim dividend … And should that — if I mean one assume as a more sustainable band going forward or any thoughts on this could be welcome? Thank you. It has fixed 23 October as the record date for interim dividend and 30 October as payment date. Whether you are okay with the 7.5% kind of range or you think it will shoot up to low-double-digit? Just as a follow-up to that. So bit premature to talk about that. In terms of freshers in India, this year, we expect to add about — onboard about 16,500 people. Thanks for the opportunity. Thank you very much. On the core shrinkage, I mean, today when we look at what’s happening, plan for investing in technology to deal with the pandemic, building resiliencies, fixing supply chain issues and so on. And congratulations to the management team on a fantastic quarter. The increase in RPP is a remarkable achievement. And do cost take-out a figure in kind discussions quite a lot? About 3,000 were freshers, both in India and abroad. Infosys Q2 net profit tanks 2.2% YoY to Rs 4,019 crore, beats estimates; dividend at Rs 8 per share Updated : October 11, 2019 05:51 PM IST Revenues came in at Rs 22,629 crore, a 19.1 percent increase when compared to Rs 20,609 crore in the same period last year. Thank you. Conagra Brands (NYSE: CAG) reported second-quarter 2021 financial results before the regular market hours on Thursday. We’ve seen few small things moving. Is there a limit on how high you think that percent could go? So you will always see as your digital share increases, you will always see the core shrinking because we are really talking about the same pie. We’ll not quantify it in our business model the percentage that will come in that sense from M&As. Infosys Ltd. has declared 43 dividends since Oct. 25, 2000. And second is the underlying secular trend, which in a delay as we were discussing earlier, the cloud part of digital is on a rate growth in terms of the market, in terms of what clients are doing, in terms of what the large partners of ours are doing. Stay safe. Obviously — probably, I mean, if you look at historical thing, maybe the percentage of net new in this pipeline is probably on the higher side. Thanks, Ankur. On the first, there were three M&A transactions we did over the last three months. Sensex Today. So that has its own sets of constraints especially in services type of companies. I’ll start with the first one. It’s very difficult to predict the timeline when these deals will get closure. Bank Holidays in January. This was achieved after rewarding our employees with variable pay at 100% and awarding a one-time special bonus. Got it. Thank you. Now many of our companies work with a certain aspirational margin band. Hi, everyone. One is an area which is on everything related to digital transformation for which a large part of it is cloud and the area around cloud migration, but also cloud deployment, building cloud first applications, rolling out SaaS, working in public and hybrid cloud, private cloud environments. That absolutely helps. The next question is from the line of Sandip Agarwal from Edelweiss. We’ve done something in ServiceNow. Infosys Limited (INFY) Q2 2020 Earnings Call Transcript INFY earnings call for the period ending September 30, 2019. At the current share price of Rs 1286.25, this results in a dividend yield of 1.67%. Second is, also we had cut discretionary expenditure like travel, as you can see that in our results. Analysts: Yogesh Aggarwal — HSBC Securities — Analyst Infosys Q2 Results: ANNOUNCED! This is Pravin here. With that, we can open up the call for questions. Infosys on Wednesday reported a 20.5 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 4,845 crore for the quarter ended September 30, 2020 (Q2FY21). It’s in our pipeline. The Board of Directors at a meeting held on October 9, 2009, declared an interim dividend of Rs. Operating margins expanded by 270 basis points sequentially to 25.4%. So that will be the way play. Ladies and gentlemen, that was the last question for today. Any natural barriers to that moving higher which is a significant enhancement of margin? Higher net new is definitely good news. And is it possible to understand how the new versus renewal ratio would be if we exclude Vanguard? Yeah, hi. The increase in capex spend during the quarter was mainly towards technological enablement of our employees. Thanks, Sandip. So like I mentioned in my speech that we have seen this benefit both of our three levers which we kick-started at the beginning of the year. What we do have is a fairly clear view of which areas. Wish you all the best for the rest of the year. And so those are specific areas where we see tremendous growth and a good organic business within the company. Thanks for taking my question, and congrats on a great quarter. Infosys Standalone. And there is the further effect in Q3, as you know, a good — in Q4 typically, Infosys — historically, we’ve had a fairly muted quarter. How has that trended so far? Interim Dividend. Got it. We see for the Q3 and Q4 steadily improving quarter-on-quarter activity in different industries. Do you see client funding incremental spends through higher offshore shift going forward? The company also informed that the record date of the divided will be Monday, 26th October, 2020, this means if any investor would like to receive the announced dividend, the investor require to purchase the stock of the company at least two working days prior to the record date.The dividend will be credited to the accounts of share holders on or after Wednesday, 11th November, 2020. We have moved the bottom by two points, so it’s quite a big change in terms of revenue growth guidance. My question is also on profitability. So that last bucket or that last prong around strategic levers, how much was the benefit year-over-year in margin from some of those actions and the operational actions? Thanks for that question. So at least I do expect the pace of modernization of legacy to continue much more aggressively than what we have seen in the past. So these are the different strategic levers. This translates to a 2.2% growth year-on-year and 1.9% for H1 year-on-year in constant currency. That’s first part of my question. And if yes, I mean, should that — when does the impact of that will come in into RPP going forward? Any reproduction, redistribution or retransmission is expressly prohibited. We are completely digital from the inside. We continue to have a strong pipeline of deals in this segment and have won two large deals in the last quarter which should help in stabilizing performance for this segment. And we are delighted with the growth we’ve seen overall and in digital and with the margin profile of our business. We believe, obviously, it will work for the next several years. Large deal wins in quarter two was the highest ever at $3.5 billion. For example, Hi-Tech is looking strong, as Pravin mentioned, Life Sciences is good, Financial Services stable, Retail also now starting to see some progress. Understood. So the way to look at it is, you have — I mean, you have a pie IT spend. I mean at this stage, I can’t really quantify how much higher it is, but it’s definitely on the higher side. So these are the three large carve-outs within that 100 basis points. You can view Announcement Date, Effective Date, Dividend Type (Interim, Final and Special), … Thank you. It has helped us in the first half, but will start impacting the margins. The sequential improvement in margins was led by 100 basis points improvement due to increase in RPP, 80 bps due to a 2.4% increase in utilization and 80 bps due to a 1.9% improvement in onsite offshore mix, partly due to the temporary travel restrictions. Infosys Ltd. has declared 43 dividends since Oct. 25, 2000. The deal pipeline remains at the healthy level and makes us hopeful of the future prospects. Thank you. It’s been a small number anecdotal. One is on the deals that we have won so far, obviously, there is a lot that’s already spoken about, Vanguard. And the second is, how are clients funding these spends? So I don’t see that there is some sort of a ceiling there. Thank you very much, and congratulations. In the last quarter, we have been rated as leader in 11 services related capabilities across Digital Pentagon areas by industry analysts. Looking at what they’re doing at revenues starting earlier on localization, an extreme focus on rescaling that we’ve put into place and our own internal digital infrastructure, which has helped us. This is Salil. Large pipeline remained strong as clients look at accelerating digital transformation programs and continuing their focus on automation and cost efficiency. But as long as your overall growth — you are also seeing overall growth, then it’s positive for us. Please go ahead. Infosys Q2 net profit jumps 10.3% YoY to Rs 4,110 crore, declares interim dividend Updated : October 17, 2018 06:29 AM IST . Revenues for the quarter grew 4% sequentially in constant currency. Thanks a lot. Our digital portfolio is growing strong at over 25% year-on-year in constant currency, and now constitute 47.3% of overall revenues. And for us that is the most critical part is to continue to show stability rather than exactly what you mentioned was a much more volatile. Will you, for example, think about this to enter market space in a situation which you otherwise wouldn’t participate to try and expand your addressable market if this deal win sustains? The next question is from the line of Diviya Nagarajan from UBS. We have seen some benefits of that temporarily. We continue to maintain a very strong debt-free and liquid balance sheet. Please note that anything which we say which refers to our outlook for the future is a forward-looking statement, which must be read in conjunction with the risks that the company faces. The second thing is, the price with the increase in RPP, I thought that we are living in recessionary — I mean actually in rescission and this had backdrop. I’ll go with that. Thank you. Thanks, Pravin. First was the cost deferrals, which we’ve talked about in terms of promotions, the wage hikes, the recruitment fees, which we had implemented at the beginning of the quarter, first quarter. also were cut back. Thanks, Sandeep. I mean, it’s a combination of two things. But it’s premature to say that how much of this is sustainable. View Infosys Ltd Dividend announcement date, Ex-dividend date, Interim dividends, final dividend And given operating model, we can build a good business in them at our margin structure for the future. Categories Earnings Call Transcripts, Technology, Infosys Limited (NSE: INFY) Q2 2021 earnings call dated Oct. 14, 2020, Sandeep Mahindroo — Financial Controller and Head – Investor Relations, Salil Parekh — Chief Executive Officer and Managing Director, Pravin Rao — Chief Operating Officer and Whole-Time Director, Yogesh Aggarwal — HSBC Securities — Analyst, Keith Bachman — BMO Capital Markets — Analyst, Sandip Agarwal — Edelweiss Capital — Analyst, Kawaljeet Saluja — Kotak Securities — Analyst, Ladies and gentlemen, good day, and welcome to the Infosys Earnings Conference Call. So are you expecting some decline in certain verticals going forward? For the other piece, Pravin, do you want to go ahead please? Growth and a good business in them at our margin structure for the team ve launched six digital in! Given operating model, we ’ ve also mentioned that the band also now! And where we see that there will be both volume growth and a good business in them at our level... 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