March 23, 2023

Infosys posts 11.7% rise in Q3 net profit at Rs 5,809 crore; revenue up 23% – Times of India

NEW DELHI: Software services firm Infosys on Wednesday reported 11.77 per cent jump in consolidated net profit the third quarter (Q3) ended December 31, 2021.
The Bengaluru-based company posted a net profit of Rs 5,809 crore, up 11.77 per cent from Rs 5,197 crore posted in the same period last year.
In terms of quarter-on-quarter growth, Infosys posted 7.15 per cent rise in net profit. The company had posted a net profit of Rs 5,421 crore in the previous quarter ended September 30, 2021.
Infosys’ revenue jumped 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period.
The IT firm said that its growth remained broad-based and deal momentum was robust, with digital transformation rapidly scaling across all verticals and regions.
Its operating margins for the quarter remained healthy at 23.5 per cent, with free cash flow conversion at 92.6 per cent.
Chief executive officer (CEO) and managing director (MD) of Infosys Salil Parekh said: “Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re- skilling of our people, and deep relationships of trust that our clients have with us.”
Infosys expects revenue growth of 19.5 per cent -20 per cent on a constant currency basis for the financial year to March, compared with the 16.5 per cent-17.5 per cent growth predicted in October.
Shares of Infosys closed 1.16 per cent higher at Rs 1,877.6 on the BSE, while it finished at Rs 1,875.8 on the NSE.


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