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Infosys net up 10.3 per cent in second quarter (Lead)

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Bengaluru, Oct 16 (IANS) Software major Infosys on Tuesday reported Rs 4,110 crore consolidated net profit for the second quarter of fiscal 2018-19, registering 10.3 per cent annual growth from Rs 3,726 crore in the same period a year ago and 13.8 per cent sequential growth from Rs 3,612 crore quarter ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter under review (Q2) grew 17.3 per cent annually to Rs 20,609 crore from Rs 17,567 crore in the like period year ago and 7.3 per cent sequentially from Rs 19,128 crore quarter ago.

Under the International Financial Reporting Standard (IFRS), net income, however, was flat (0.5 per cent) annually at $581 million from $578 million year ago but up 8.8 per cent sequentially from $534 million quarter ago.

Revenue in dollar terms grew 7.7 per cent annually to $2,921 million from $2,728 million a year ago and 3.2 per cent from $2,832 million a quarter ago.

The company, however, retained revenue guidance for the fiscal (FY 2019) at 6-8 per cent year-on-year (YoY) and operating marging at 22-24 per cent YoY.

“Operating margin for the second quarter at 23.7 per cent is at higher end of our guidance range,” said the company in a statement later.

Digital revenue at $905 million, accounted for 31 per cent of the total revenue and grww 33.5 per cent YoY and 13.5 per cent quarterly.

“We have also signed a large deal of $2 billion,” claimed the company but did not disclose the client’s name, its geographic location and in which vertical it operates.

The board also declared 140 per cent interim dividend of Rs 7 per share of Rs 5 face value.

“We have also allotted over 218-crore fully paid-up equity shares of Rs 5 face value as bonus issue, which was approved by shareholders through postal ballot during the quarter,” added the statement.

The company’s blue-chip scrip of Rs 5 face value lost Rs 2.70 per share to end at Rs 696.40 at the end of Tuesday’s trading on the BSE, as against Monday closing price of Rs 699.10 and opening price of Rs 709. It was also quoted at a high of Rs 713.75 and a low of Rs 688.10 during the intra-day trading session.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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