Infosys Profit At Rs 4,457 Crore In December Quarter, Beats Estimates

Infosys, the country’s second largest software services company, on Friday reported that its net profit for third quarter (October-December) of current financial year came in at Rs 4,457 crore. That marked an increase 10.9 per cent from profit of Rs 4,019 crore in the previous quarter, Infosys said in a regulatory filing after market hours on Friday. Analysts on average had expected the Bengaluru-headquartered company to earn Rs 4,206 crore, according to Refinitiv data, news agency Reuters reported.

Infosys’ revenue jumped 2 per cent to Rs 23,092 crore compared with Rs 22,629 crore in the previous quarter.

In dollar terms, Infosys revenue jumped 1 per cent sequentially to $3,243 million.

The Bengaluru-based IT services company raised revenue guidance in constant currency terms for the current financial year and guided for revenue growth in range of 10-10.5 per cent compared with 9-10 per cent earlier.

Salil Parekh, CEO, Infosys said, “Q3 results further underscore that we remain steadfast in our journey of sustained client relevance and deepening engagement with them.”

“For us, this has translated into double digit growth year-to-date, leading to an increase in revenue guidance, accompanied by expanding operating margins,” added Mr Parekh.

In a separate statement, Infosys said that its audit committee investigating anonymous whistleblower complaints against its CEO Salil Parekh for allegedly leading an effort to shore up profits through irregular accounting, has found no evidence of financial impropriety or executive misconduct.

Infosys shares ended 1.5 per cent higher at Rs 738.25 on the BSE ahead of earnings announcement.

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