After the disappointing Q1FY18 numbers of TCS, expectations from Infosys were as such low but this time around, it beat all estimates. For Q1FY18, Infosys net profit fell 3% (QoQ) to Rs.3483 crore on a 0.2% decline in revenue at Rs.17,078 crore.

Dollar revenue showed a 3% growth at $2,651 million and constant currency revenue grew 3% too. EBITDA was down 2.4% at Rs.4111 crore and margins fell 60 bps to 24%.

The good news – Infosys maintained its constant currency revenue growth guidance at 6.5-8.5%; increased its FY18 dollar revenue growth guidance to 7.1-9.1% v/s 6.1-8.1% earlier.  It also maintained its EBIT margin guidance at 23-25% for FY18.