Infosys logs 16.6% growth in Q3 net profit

IT major Infosys on Wednesday reported a 16.6 per cent year-on-year growth in its consolidated net profit for October-December period at Rs 5,197 crore.

Its net profit during the corresponding period of the previous fiscal (FY2019-20) stood at Rs 4,457 crore.

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The company reported a revenue of Rs 25,927 crore during the period under review, higher by 12.3 per cent from Rs 23,092 crore earned during the third quarter of FY20.

Infosys has raised its revenue and margin guidance band to 4.5-5.0 per cent and 24.0-24.5 per cent respectively on the back of continued strong performance.

Salil Parekh, CEO and MD of the company said: "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."

He said that 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.

"With the intense focus on client needs and the comprehensive foundation built on differentiated capabilities, I remain confident about the future," Parekh said.
 

The story has been taken from a news agency