Infosys Q3 net profit up 16.6 per cent

The company had posted a net profit (after minority interest) of Rs 4,457 crore in the year-ago period, Infosys said in a regulatory filing

New Delhi: The country’s second-largest IT services firm Infosys on Wednesday reported a 16.6 per cent rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter. The company had posted a net profit (after minority interest) of Rs 4,457 crore in the year-ago period, Infosys said in a regulatory filing.

Its revenue grew 12.3 per cent to Rs 25,927 crore in the quarter under review from Rs 23,092 crore in the corresponding period last fiscal. Infosys has increased its FY21 revenue growth guidance to 4.5-5 per cent in constant currency terms. In October, Infosys had guided towards 2-3 per cent revenue growth in FY21 on constant currency basis.

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“The Infosys team 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 company’s CEO and MD Salil Parekh said.

He added that with the intense focus on client needs and the comprehensive foundation built on differentiated capabilities, he was confident about the future. The company said its large deal total contract value was at an all-time high of $7.13 billion.