Infosys Q3 result: PAT down by almost 30% to Rs 3,610 crore; constant currency guidance revised to 8.5%-9%

IT-giant Infosys in its December 2018 (Q3FY19) quarter, posted a disappointing result with consolidated net profit declining by a massive 29.61% to Rs 3,610 crore compared to Rs 5,129 crore witnessed a year ago in the same period. Q3FY19 PAT was also down by 12.16% from Rs 4,110 crore registered in Q2FY19. On the other hand, Infosys revenue came in at Rs 21,400 crore in Q3FY19 which was higher by 20.26% as against Rs 17,794 crore in Q3FY18 and was sequentially up by 3.83% versus Rs 20,609 crore in Q2FY19. 

Salil Parekh, CEO and MD said, "With increased client relevance, we saw double digit (10.1%) year-on-year growth in Q3 on a constant currency basis."

"We also had another strong quarter in our digital business with 33.1% growth and large deals at $1.57 billion which gives us confidence entering 2019," he added.

In dollar, the revenue was at  $2,987 million, growth of 8.4% YoY and 2.2% QoQ. Operating profit was at $675 million - growth of 0.9% YoY and decline of 2.6% QoQ. Digital revenues stood at $942 million (31.5% of total revenues) in Q3FY19, which saw year-on-year growth of 33.1% and sequential growth of 5.0% in constant currency terms.

Going forward, FY 19 revenue guidance in constant currency revised upward to 8.5%-9.0%; Operating margin guidance retained at 22%-24%. 

On Sensex, Infosys finished at Rs 683.70 per piece up by 0.58%.