Infosys net profit up 23.5% in Q3

Agency News

Going beyond expectations, IT major Infosys Ltd has registered a net profit of 23.5 percent in its third quarter.

Its revenue went up by 7.9% at ₹23,092 crore. Infosys has also revised upwards FY20 revenue outlook to 10-10.5% in constant currency. On a QoQ basis, Infosys's profit grew by of 10.9%. In the year-ago period, Infosys had posted a net profit of ₹3,610 crore.

Infosys added 84 new clients added in the December quarter. In dollar terms its revenue stood at $3,243 million, growing YoY at 8.6% and 9.5% in constant currency terms. Infosys CEO and MD Salil Parekh said the Q3 results further underscore that the company remains steadfast in its journey of sustained client relevance and deepening engagement with them.

Infosys COO Pravin Rao said large deal wins continue to be robust with 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."

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%. Infosys announced its results after market hours. The company's shares gained 1.47% to close at ₹738.25 on the BSE.