Infosys Q3 net up 23.7% at ₹4466 cr; raises FY20 revenue outlook to 10-10.5%

The company has raised its revenue outlook for FY2019-20 in constant currency to 10-10.5%, from its topline guidance of 9-10% given in October.

Country’s second-largest IT services firm Infosys on Friday reported a 23.7% rise in consolidated net profit at ₹4,466 crore for the December quarter. The company had posted a net profit of ₹3,610 crore in the year-ago period, Infosys said in a BSE filing.

Its revenue grew 7.9% to Rs 23,092 crore in the quarter under review from ₹21,400 crore in the corresponding period last fiscal, it added.

The company has raised its revenue outlook for FY2019-20 in constant currency to 10-10.5%, from its topline guidance of 9-10% given in October.

“Q3 results further underscore that we remain steadfast in our journey of sustained client relevance and deepening engagement with them, as they partner with us in navigating their next in the digital transformation era,” Infosys CEO and MD Salil Parekh said.

He added that this has translated into double digit growth year-to-date, leading to an increase in revenue guidance, accompanied by expanding operating margins.

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,” he added.

In U.S. dollars, Infosys net profit grew 24.8% to $627 million in the December quarter, while revenues rose 8.6% to $3.24 billion.

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%.

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