Infosys reports net profit of Rs 4,457 crore in Q3, beats estimates
Its revenue grew 7.9 percent to Rs 23,092 crore in the quarter under review from Rs 21,400 crore in the corresponding period last fiscal. The company has revised upwards its FY20 revenue guidance in constant currency to 10-10.5 percent.
India's major IT behemoth Infosys on Friday reported a 23.7 percent year-on-year (YoY) jump in consolidated net profit at Rs 4,457 crore for the third quarter ended December 2019.
In the corresponding quarter last year, the company posted a net profit of Rs 3,610 crore. CNBC-TV18 Polls had predicted a profit of Rs 4,200 for the quarter under review.
Its revenue grew 7.9 percent to Rs 23,092 crore in the quarter under review from Rs 21,400 crore in the corresponding period last fiscal, it added. The company has revised upwards its FY 20 revenue guidance in constant currency to 10-10.5 percent, it said.
In US dollars, Infosys net profit grew 24.8 percent to $627 million in the December quarter, while revenues rose 8.6 per cent to $3.24 billion. Its total headcount stood at 2,43,454 at the end of December 2019 with an addition of 6,968 people. The attrition rate was at 19.6 percent.
"Q3 results further underscore that we remain steadfast in our journey of sustained client relevance and deepening engagement with them, as they partner with us in navigating their next in the digital transformation era," said Salil Parekh, chief executive officer and managing director.
"Overall performance during the quarter was satisfactory on multiple counts – broad-based growth, steady increase in client metrics and healthy large deal win. Large deal wins continue to be robust with the growth of 56% so far this year. We had a further reduction in attrition, demonstrating the results of our continued efforts towards strengthening employee engagement and value proposition," said Pravin Rao, chief operating officer.
Shares of Infosys ended at Rs 738.25, down Rs 10.70, or 1.47 percent on the BSE.
First Published: Jan 10, 2020 4:12 PM IST
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