Revenues increased by 4% sequentially on constant currency on top of the robust performance in quarter one. Now many of our companies work with a certain aspirational margin band. Please go ahead. And if you move to a hybrid model, it remains to be seen how much of that benefit we can keep and we will have to invest more in technology, in communication and security. So that will be the way play. And the second question is related to, is there a limit that you see for offshore work? Hi, everyone. And there are times when lot of renewals were due for — come due in a particular quarter, but it’s obviously very positive thing. Benefits from reduction in SG&A and other expenses were offset by increase in depreciation and amortization and cross-currency headwinds. But we generally modeled it on how we have seen this Q1 and Q2 evolve, and that’s how we look to the next couple of quarters for this financial year. A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. 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. And clearly, we see that coming back and it will start impacting the margins. Is that the right way to understand that? Do you expect that kind of stabilize and go back to where it was pre-COVID as customers start to stabilize? Automation remains at the heart. No, no. Second is, also we had cut discretionary expenditure like travel, as you can see that in our results. Infosys share price live updates on The Economic Times. Indeed an exceptional performance all around. So as we’ve talked about the three-pronged approach, we will see some of this come back. 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. We’ve also mentioned that the promotions, which had been limited largely to the junior level employees will now be across. And secondly, in general, I think the IT spend is always a percentage of overall revenues and more often than not it remains the same steady percentage and people are able to fund some of the discretionary spend or digital spend by repurposing from — taking away from core. In the past 12 months, Infosys Ltd. has declared an equity dividend amounting to Rs 21.50 per share. Infosys Limited Q2 2021 earnings call dated Oct. 14, 2020. Whether you are okay with the 7.5% kind of range or you think it will shoot up to low-double-digit? Hi, Kawal. Cobalt is built with strong partnerships with leading SaaS, PaaS and infra-as-a-service companies across public, private and hybrid cloud environments. I think most of my questions have been discussed. Infosys Ltd. has declared 43 dividends since Oct. 25, 2000. RELATED NEWS . I may have missed here. So the way to look at it is, you have — I mean, you have a pie IT spend. And so I think these are the two large ones. So cloud is definitely something that’s working very. Infosys Limited (NYSE:INFY) Q2 2021 Earnings Conference Call October 14, 2020 8:30 A.M. 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. 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. And should that — if I mean one assume as a more sustainable band going forward or any thoughts on this could be welcome? So there is lot of focus on both physical and mental wellness and so on. The record date for the payment of the dividend is October 16, 2009. On Friday, Infosys Ltd reported a 2.2 percent drop in consolidated net profit on a year-on-year basis at Rs 4,019 crore for the second quarter of the financial year 2019-20. But excluding that, what is the nature of services that you’re largely seeing within these deals? FCF for quarter two was a healthy $674 million, which is a growth of 70% year-on-year and 59% in H1 growth of year-on-year. 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. We are completely digital from the inside. And then the other two, Pravin can jump in with the answers. If you could just unpack this a bit more, how much of this is the reflection of the overall demand environment versus your ability to gain share in the new state of play and what’s helping you do that? The next question is from the line of Ankur Rudra from J.P. Morgan. We continue to maintain a very strong debt-free and liquid balance sheet. Sorry. Stay safe. Please go ahead. 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. Voluntary attrition for IT services declined to 7.8% and significantly lower than our comfort band of 14% to 15%. This was achieved after rewarding our employees with variable pay at 100% and awarding a one-time special bonus. And even in fact wherever we are seeing some of our core shrinking, we also have a play because part of the core shrinking is also because we are proactively taking ideas to customer, taking cost out and other thing. I wanted to ask first on margin sustainability. That’s very helpful. Consistent with the improved cash flow and our capital allocation policy, the board has declared an interim dividend of INR12, which is a 50% growth over the interim dividend per share of FY ’20. I’m thankful to each one of our employees for staying deeply committed to serving our clients, as they themselves navigated their own personal challenges associated with the ongoing COVID situation and a remote operating model. Our industry-leading performance over the first half of this year has been due to the immense commitment of our over 240,000 employees. Let me share with you some of the highlights for Q2. So I don’t see that there is some sort of a ceiling there. News. Thanks, Sandip. I’ll come back to you before the call end. 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. The point on the cost discounts versus RPP client discussions, I think as Nilanjan was sharing, the environment in Q2 especially has been quite stable vis-a-vis discount is — what I mean is not anything unusual. 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. A complete statement and explanation of these risks is available in our filings with the SEC, which can be found on www.sec.gov. Is it time to think about this strategically? What we do have is a fairly clear view of which areas. This should propel revenue growth for Financial Services in the coming quarters. What is your understanding on the attrition level going forward? Is that largely operations led? Thank you. 10.00 per share. And so we feel quite comfortable at this stage. We’ve seen few small things moving. 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. Thanks for that question. Okay. This is Salil. ©2009-2020 Stock Infinities & Infinities Group. And that’s really given us the confidence to increase both the revenue and the margin guidance. The notification read, "Fixed October 26, 2020 as record date for interim dividend … And second, what kind of a macro environment are you building in your guidance given that the band also is now reduced? I think the general answer would be, yes. Is that the right takeaway? And secondly, and I appreciate that you said that there are some strategic cost levers and there are some that you cannot predict given the fluidity of the situation. We stand together and are extending all possible supports to their families during this trying times. I think we are well on our way of doing similar numbers this year, well above $150 million. 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. Please go ahead. Are you seeing a lot more app modernization, cloud migration? Thanks, Ankur. When we look at your bid and proposal pipeline for the next six months to 12 months, would you say that the mix is different in terms of renewals versus new deals? We’re really excited with the way this quarter has played out. Thank you, and congratulations. For example, scaling our digital, working very focused way on looking at large deals. Salil Parekh — Chief Executive Officer and Managing Director. The onsite offshore mix ratio is difficult to forecast in that sense. But we still see despite all of that that there will be both volume growth and revenue growth, which is within our pipeline. And so those are specific areas where we see tremendous growth and a good organic business within the company. Our digital portfolio is growing strong at over 25% year-on-year in constant currency, and now constitute 47.3% of overall revenues. Hiring in subsequent quarter, quarter four will obviously be dependent on the growth. And there is none of that a large sort of thing coming in into the RPP. We have signed six large deals in this segment in the last quarter, including the Vanguard deal. We see for the Q3 and Q4 steadily improving quarter-on-quarter activity in different industries. Interim Dividend. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase. And all the best for the future. Check out why Infosys share price is falling today. The notification read, "Fixed October 26, 2020 as record date for interim dividend … Quarter two marked 21 consecutive quarter of positive forex income despite significant currency volatility across the globe. 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. The next question is from the line of Pankaj Kapoor from CLSA. 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. While there are disruptions for segment, we are seeing opening up of pockets, although the pace of recovery may remain sluggish. Our operating cash flow was at $793 million, a 52% increased year-on-year. How has that trended so far? GST Collections . Thank you. Cash and investments at the end of quarter two were $4.55 billion. And of course, a lot of it in our business, as you know well, is the steady execution, a continuous sort of traction to that. Live TV. I don’t know there will be an acceleration. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc. © COPYRIGHT 2020, AlphaStreet, Inc. All rights reserved. But at the end of the day for Infosys the margin band has kept on bouncing around quite a bit in the last three years to four years. The company announced an interim dividend of Rs 8 per equity share. 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. So it’s a combination. I’m Sandeep from the Investor Relations team in Bangalore. 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? Many of these, like I said, will not be sustainable. As well, of course, aspiration is always to improve margins, but in no way can we take the 23% to 24% as something which you can model and go ahead from. The hub strategy really helps us in calculating freshers from community colleges, etc. Thank you. The past three months also saw us announce three acquisitions; GuideVision, focused on ServiceNow; Blue Acorn, focused on Adobe; and Kaleidoscope, focused on medical product design. 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. The Bengaluru-headquartered company posted a 17.3 per cent rise in revenue from operations to Rs 20,609 crore in Q2 Infosys has also declared an interim dividend of Rs 7 per equity share. Sure. Of course, travel has come down dramatically. I said there is no way you can take the 23% to 24% as a sustainable number going forward. Top Searches. So just the first one, quickly on RPP, the 100 bps is a combination of multiple factors. I know you said there was tension on some forces at work that would suggest more onshore work, but the cost advantage of offshore work in the quarter was 73.9. Okay. Thanks. Understood. But in absolute, you’re right, the onsite offshore mix has helped the overall employee cost to come down. About 3,000 were freshers, both in India and abroad. Digital revenues grew at 25.4% year-on-year in constant currency and now accounts for 47.3% of our revenues. The next question is from the line of Bryan Bergin from Cowen & Company. So the number of hiring was on the lower side this quarter. We are paying 100% variable pay for quarter two along with the special incentive, which will be paid to employees in lower levels. Large deal wins in quarter two was the highest ever at $3.5 billion. Okay. I had two questions actually. For the second part, Nilanjan, over to you. So we will obviously try to drive that faster still, but we also have a large size, so we have to find a way to keep it at this level as well. Lastly, my heartfelt condolences to the families of five of our colleagues whom we have lost due to the pandemic. Thank you. Dividend: The company declared an interim dividend of Rs 12 per equity share and fixed October 26, 2020, as the record date for interim dividend and November 11, 2020, as the payment date. H1B Visa. Is there anything different in terms of the historical mixes? 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. Nilanjan Roy — Chief Financial Officer. Please go ahead. 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. But strategically, we have seen that coming down over a period of time and our intent remains to continue to see that onsite offshore mix changing. Narayana Murthy … We have discussions in those areas where we see some traction. Thank you, and wish you all the best. For the other piece, Pravin, do you want to go ahead please? Infosys Q2 Results: IT major's net profit up 20% at Rs 4,845 crore; key highlights. So our sense is, over a period of time it will probably go back to maybe I mean low-single-digits, as you talked about, which has always been our comfort zone over the years. But the reality is, once the market opens up, there will be some amount of attrition going up because there will definitely be a war for talent. 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. Quickly I’ll finish the cost optimization part. And you can see from our actions, we really make sure we addressed that absolutely fully. Onsite offshore effort mix improved by 190 bps to 26.1%, the lowest ever. And clients also realize that for them to implement and take advantage of technology, their legacy has to be modern, it has to be agile, otherwise it’s very tough to get the benefit and even to drive any innovations in their own organization. I mean at this stage, I can’t really quantify how much higher it is, but it’s definitely on the higher side. We definitely see market share gain going on in that play. And next year, we are planning to add another 15,000 people, mainly freshers in India. Yeah, hi. All Rights Reserved. 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. Jomy Pullokaran. Thank you, Salil. Infosys Q2 net profit rises 20.5% to Rs 4,845 crore. Thanks a lot. Thank you. This is despite the bonus and special incentives. This is Pravin here. In the last quarter, we have been rated as leader in 11 services related capabilities across Digital Pentagon areas by industry analysts. At the current share price of Rs 1265.50, this results in a dividend yield of 1.7%. And did you say that 23% to 24% is a sustainable margin band to model based upon it? Any ability to give us a sense on how much of the mix of the margin expansion you’ve shown is lasting versus short-term? Thanks, Sandeep. 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. What was the growth rate of that year-over-year, is my first question. On the back of a strong quarter one, quarter two continues to show up improving performance with our unwavering focus on client relevance, operational excellence, cost and liquidity management. Analysts: Yogesh Aggarwal — HSBC Securities — Analyst Got it. Now I understand that certain cost deferrals had led to an increase in the margin band this year. Hi. Understood. Condensed Ind AS Financial Statements for three and six months ended September 30, 2019; Auditors Report for three and six months ended September 30, 2019; Infosys Consolidated. This is Pravin here. With that, we can open up the call for questions. I now hand the conference over to the management for closing comments. This transcript is produced by AlphaStreet, Inc. So we will see a headwind from that. Infosys Q2 Earnings: Infosys declared an interim dividend of Rs 7 per share, which will be paid on October 30, it said in a statement. Cost take-out is a major focus for our clients across sectors. Recognizing the continuing stellar contribution from our employees during these times, we are paying out a variable pay for the quarter at 100%. Thanks for the opportunity. So that impact is going to be very marginal for the rest of the year. The Infosys Board announced an interim dividend of Rs 12 per equity share. Hopefully, we keep up the execution and that sustains for us. And over to you, sir. And the second is, how are clients funding these spends? Just as a follow-up to that. 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'. 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. So we watch and see how that goes over the next few quarters. Corporate Participants: Sandeep Mahindroo — Financial Controller and Head – Investor Relations. 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. I would say — I mean, it’s a combination, right? Yeah, hi. Thanks again. Some of the more discretionary expenditure like brand building, etc. Our balance sheet remained strong with cash and investments positioned at $4.6 billion with no debt. Our results in Q2 are a combination of our continued focus on the needs of our clients, steady execution and a clear strategy to build a digital and cloud-aligned company. One, our size of the digital also is quite larger, it’s pretty close to half our company today. Pravin, I can just chip in quickly on that. Now on the attrition, obviously, the attrition that we have today is one of the lowest we have seen in the history of Infosys. Salil, you can add. Infosys Q2 Results: ANNOUNCED! And some of the acquisitions we are doing are also further strengthening already where we are good and where we can expand faster. Interestingly, the dividends of both TCS and Infosys … We are also focused — they are also focused — they also recognized that employees have been under stress. Infosys Limited (INFY) Q2 2020 Earnings Call Transcript INFY earnings call for the period ending September 30, 2019. So I think we’ve been very focused over the last two years in the margin guidance band on 21% to 23% because the year prior to that when we rolled out the new strategy, this was about making the investments in the hubs, in the sales force side, and clearly that, which had an impact on margin. So these are the three large carve-outs within that 100 basis points. share . So I think those are the combination of things which are sustaining us. Yeah. We did something in Salesforce, in Adobe. And Salil, back to the digital growth numbers that we’ve seen, we’ve seen a fairly steady 25% kind of growth number on the digital side. The Board of Directors at a meeting held on October 9, 2009, declared an interim dividend of Rs. You are absolutely right. But as long as your overall growth — you are also seeing overall growth, then it’s positive for us. But once the travel restrictions become less, there will probably be more work onsite. It has been the most critical element in serving our clients. Infosys announced dividend for (Q2) … Operating margins expanded by 270 basis points sequentially to 25.4%. Consequently, we are increasing our interim dividend per share by 50 per cent to Rs 12." Q2 EPS grew by 14.9% in dollar terms and by 20.8% in INR on a year-on-year basis. So understanding you have some benefits that dissipate in the second half. The next question is from the line of Moshe Katri from Wedbush Securities. Please go ahead. Yeah. 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. We don’t anticipate it. I think the main thesis, as you alluded, is really taking cost out of existing estate through automation or other means and funding it — funding programs which gave the growth, differentiation, access and experience for our clients for their work going forward. Infosys beats street estimates, 6 takeaways from Q2 scorecard Infosys has revised its revenue growth guidance from 0-2 percent to 2-3 percent in constant currency for the financial year 2020-21. It’s very difficult to predict the timeline when these deals will get closure. That’s a big — practically over $6 billion business growing at 25%, which is quite remarkable. Yogesh, so if you see from a net headcount we only added about 1,000 people, so this was less than 0.5% so there was not much of a headcount change. 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 metric is important for investors wanting a significant dividend outlook for a particular investment. Nilanjan Roy — Chief Financial Officer. Hey, thank you very much, and congratulations for the team. One, given the fact that the M&A pace is accelerating, is there a way to quantify the expected contributions from M&A to your guidance for fiscal year ’21 in terms of gross? It’s in our pipeline. Our utilization, if you recall, was much lower in quarter one and it has been put significantly. Moving to business segments. Manufacturing segment was stable during the quarter, which is a massive improvement from the sequential decline in quarter one. Quarter two revenues included only a marginal contribution from the Vanguard deal, which should start ramping up from quarter three onwards. Revenues for the quarter grew 4% sequentially in constant currency. And in fact, we’ve raised our guidance keeping very much in mind the strong demand that you see and the good conversion large deals that we have in place. So they may have been — there may be some balancing there as well. Bit more see this in the coming quarters Salil, very strong debt-free liquid! A and other inaccuracies but in absolute, you ’ re really with! And more productive and efficient for our clients, Infosys Ltd. has an... Ve seen overall and in digital and cloud and the company seen improvement!, declared an interim dividend of Rs 12 per equity share your families and loved.! 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