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Earnings

Infosys Q3 net profit up 16.6% at Rs 5,197 crore; beats estimates

Updated : January 13, 2021 04:52 PM IST

CNBC-TV18 poll had predicted a profit of Rs 5,084 crore for the quarter under review.

In the corresponding quarter last year, the company posted a net profit of Rs 4,466 crore.

India's second-largest IT services company Infosys on Wednesday reported 16.6 percent year-on-year (YoY) rise in consolidated net profit to Rs 5,197 crore for the December quarter.

CNBC-TV18 poll had predicted a profit of Rs 5,084 crore for the quarter under review.

In the corresponding quarter last year, the company posted a net profit of Rs 4,466 crore.

Its revenue grew 12.3 percent to Rs 25,927 crore in the quarter under review from Rs 23,092 crore in the corresponding period last fiscal, it added.

Infosys has increased its FY21 revenue growth guidance to 4.5-5 percent in constant currency terms. In October, Infosys had guided towards 2-3 percent revenue growth in FY21 on constant currency basis.

"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," said Salil Parekh, CEO and MD.

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.

Shares of Infosys ended at Rs 1,387.70, up Rs 15.85, or 1.16 percent on the BSE.

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