Infosys on Wednesday reported a net profit of Rs 5,421 crore for Q2FY22. That marked a sequential rise of 4.4 percent. Its revenue came in at Rs 29,602 crore, up 6.1 percent compared with the previous quarter.
The company reported earnings before interest and taxes (EBIT) of Rs 6,972 crore, as against Rs 6,603 crore for the previous quarter and its EBIT margin came in at 23.6 percent versus 23.7 percent in Q1FY22.
Ashis Dash, Research Analyst of IT at Sharekhan believes Infosys has delivered a good performance.
"It has delivered a beat on revenue front as well as on margin front. The guidance is also in line with our expectations. So overall the company has reported better than our expectations," he said.
Suyog Kulkarni, Senior Research Analyst at Reliance Securities, too said that Infosys reported better than expected numbers.
"Infosys Q2FY22 earnings are better than our expectations both on a revenue front and on the margin front. The guidance that they are giving is also in line with our expectations. So we consider it as a beat," he said.
Kulkarni added that he prefers Infosys over TCS in the current scenario because he believes that their revenue growth performance will be higher.
"Infosys is presently trading at a higher single-digit discount compared to TCS but it seems like this year the revenue growth performance of Infosys will be higher than TCS. So in our pecking order also we prefer Infosys over TCS," he said.
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