Net Earnings

Infosys net profit rises 2.4% to Rs 3,690 crore in fourth quarter

This was the company’s first full quarter under its new Chief Executive Officer Salil Parekh.

Information Technology giant Infosys on Friday reported a net profit of Rs 3,690 crore – a rise of 2.4% – in the fourth quarter, compared to Rs 3,603 crore in the same period in 2017. The quarter ending March 31 was the first full quarter for Infosys under its new Chief Executive Officer Salil Parekh.

However, the company reported a 28.2% quarter-on-quarter drop in profit. It had reported a net profit of Rs 5,129 crore in the quarter that ended on December 31, 2017.

The company also said its revenues grew 5.6% to Rs 18,083 crore in the fourth quarter of 2017-’18 against Rs 17,120 crore in the same period last year.

“I am pleased with our healthy revenue growth, profitability, and cash generation in Q4,” Parekh said in a statement. “Our robust performance is a reflection of the strong impact we have with our clients and the dedication of our employees. ‘Navigating Your Next’ is our aspiration of how we will partner with each one of our clients.”

He further said that the company will execute its strategy around the four pillars – scaling their digital business, teaching new skills to their employees, expanding localisation in United States, European and Australian markets, and energizing client’s core technology landscape via Artificial Intelligence and automation.

The company reported a loss of Rs 118 crore in respect of its Israeli subsidiary Panaya for the quarter. Infosys said it is looking for potential buyers for Panaya and another subsidiary, Kallidus and Skava. The transactions are expected to be completed by March 2019, it said.

Support our journalism by subscribing to Scroll+ here. We welcome your comments at letters@scroll.in.
Sponsored Content BY 

A musical remix, a delectable dish and a taxi makeover

What do these three works of art have in common?

What connects Raghav Sachar, Ranveer Brar and Taxi Fabric? On the surface, nothing at all. Sachar is known for his genius musical abilities, Brar a chef loved for demystifying food while the essence of Taxi Fabric goes way beyond its name. All three operate, and thrive, in unconnected domains. Upon looking closer, though, a common thread emerges between their work so far - an unmistakable streak of creativity.

Raghav Sachar is a singer, composer and film scorer who was featured in a National Geographic series, My Brilliant Brain, for his prodigious musical abilities - he can effortlessly switch between male and female vocals and play over 30 musical instruments! His adaptations of old Bollywood songs, shot in a multi-screen format, have been especially well received on the Internet.

Ranveer Brar is a well-known chef who is working to expand the idea of food. He has appeared in culinary shows as diverse as Masterchef India, Great Indian Rasoi, Thank God It’s Fryday and Food Tripping. Brar’s work in food media isn’t merely instructional, he seeks to deep dive into food - to the very science of it and its endless aesthetic possibilities. Brar is also a phenomenal food stylist who approaches food presentation as no less than an art, and himself as no less than a food artiste.

Taxi Fabric is a startup that turns taxi seat covers into canvases for artists. Through Taxi Fabric, artists have found a medium to unleash their creativity and activism onto Mumbai’s roads – the iconic kaali peelis. If you get lucky on a Mumbai street, you may hop into a world of Mumbai’s chawls, surrealist Persian architecture, Chandni Chowk and more in your short taxi ride.

The latest projects from these three creatives have a connection too - the same muse, presented by Flipkart. The muse inspired Raghav Sachar to recreate one of his own songs ‘Baahon Mein Tu Aaja’. Watch his new version of the song below.

Chef Ranveer Brar, meanwhile, dipped into his food styling instinct to create a beautiful dish. You can watch his piece of culinary art below.

Taxi Fabric brought on board Arun Chanchal, a graphic designer who describes his aesthetic as geometric surrealism. Watch the stunning result of their collaboration below.

Flipkart revealed the #ExtraordinaryBeauty that launched a musical remix, a delectable dish and a taxi makeover on 20th July. Watch the reveal below.

Honor 9N is the latest in Honor’s range of beautiful, yet highly functional, phones. There’s a lot that makes Honor 9N a worthy muse - it boasts 2.5D curved glass design with 12-layer nano coating process. It, moreover, offers full-screen display thanks to its notch design. Honor 9N will be launched in India as a Flipkart exclusive on 24th July, 2018. To know more about the phone, click here. Stay tuned for the launch, here.

This article was produced by the Scroll marketing team on behalf of Flipkart and not by the Scroll editorial team.