Infosys Q3 Results: Net Profit Increases to Rs 5,809 crore; Revenue Rises 23%

Infosys Q3 Results: Net Profit Increases to Rs 5,809 crore; Revenue Rises 23%

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Infosys on January 12 reported a consolidated net profit of Rs 5,809 crore, up by 12 per cent year-on-year for the quarter ended in December. The information technology giant posted a net profit of Rs 5,197 crore for the same quarter last year.

Revenue from operations increased 23 per cent to Rs 31,867 crore for the period under review. The revenue stood at Rs 25,927 crore from the same period a year ago. The strong growth during the December quarter was driven by robust deals and digital transformation across verticals, said the IT behemoth in the regulatory filing.

Growth remained broad-based and deal momentum robust, with digital transformation rapidly scaling across verticals and regions. Large deal wins accelerated with TCV of $2.53 billion in Q3. Operating margin for the quarter was healthy at 23.5%, with Free Cash Flow conversion at 92.6%. Our talent strategy continued to be a key focus area marked by efforts to further strengthen employee skilling and well-being while nurturing our workforce to fulfil client requirements, the company 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. This is reflected in an upgrade in our revenue guidance to 19.5 per cent-20.0 per cent for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations”, said Salil Parekh, CEO and MD.

“Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimization, continued operating leverage and a stable pricing environment”, said Nilanjan Roy, Chief Financial Officer. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions”, he added.

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