Infosys Q3 Results: Net profit jumps 16.8% YoY, tops estimates

Infosys also raised revenue and margin guidance band to 4.5-5 per cent, and 24-24.5 per cent, respectively, on the back of continued strong performance.

Infosys Q3 Results: Net profit rises 16.8% YoY to Rs 5,215 cr, beats Street estimates
NEW DELHI: Infosys on Wednesday reported a 16.8 per cent YoY rise in consolidated net profit for December quarter at Rs 5,215 crore. In the same quarter last year, it reported a profit of Rs 4,466 crore.

Gross revenue for the quarter rose 12.3 per cent YoY to Rs 25,927 crore. It was up 5.5 per cent on a sequential basis. In constant currency terms, revenue growth was 6.6 per cent.

The company said its Q3 operating margin stood at 25.4 per cent, an increase of 350 bps over the same period last year.


The IT major also raised revenue and margin guidance band to 4.5-5 per cent, and 24-24.5 per cent, respectively, on the back of continued strong performance.

Infosys said it has signed large deals worth $7.13 billion. At the same time, digital revenues crossed 50 per cent of the total revenue during the quarter, resulting in a year-on-year growth of 31.3 per cent in constant currency.

“Infosys has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry. The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys. The commitment and skills of our employees to support and drive the digital journey of clients are matters of great pride for me,” said Salil Parekh, CEO and MD, Infosys.
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During the quarter, free cash flow stood at Rs 5,683 crore, rising 19.4 per cent YoY. The cash flow conversion was at 109 per cent of net profit, which is lower than what TCS reported last week. Infosys also reported a drop in attrition rate for IT services to 10 per cent from 15.8 per cent.

Infosys board has approved a definitive agreement to purchase assets and employees of Carter Digital, an Australian design agency. It did not disclose the cost of the transaction.

The board also awarded stock units worth Rs 3.25 crore to Salil Parekh and Rs 1.75 crore to one unnamed key management professional.
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