Infosys Posts Robust Net, Revenue Growth in Q3


Infosys Posts Robust Net, Revenue Growth in Q3

Beating the street estimates, global software major Infosys on Friday reported Rs 4,466 crore consolidated net profit for the third quarter (October-December) of fiscal 2019-20, registering 23.7 per cent annual growth from Rs 3,610 crore in the same period a year ago.

Sequentially too, net profit grew 10.6 per cent to Rs 4,466 crore in Q3 from Rs 4,036 crore a quarter ago.

In a regulatory filing on the BSE, the city-based IT major said consolidated revenue for the quarter grew 7.9 per cent annually to Rs 23,092 crore from Rs 21,400 crore in the like period a year ago and 2 per cent sequentially from Rs 22,629 crore a quarter ago.

Under the International Financial Reporting Standards (IFRS), consolidated net income jumped 24.8 per cent year-on-year (YoY) to $627 million from $502 million a year ago and 9.6 per cent sequentially from $572 million a quarter ago.

Consolidated gross income under IFRS grew 8.6 per cent YoY to $3,243 million from $ 2,987 million and just 1 per cent sequentially from $3,210 million a quarter ago.

Operating profit grew 4.8 YoY to Rs 5,064 crore from Rs 4,830 crore a year ago and 3.1 per cent sequentially from Rs 4,912 crore a quarter ago.

Under IFRS, operating profit grew 5.4 per cent YoY to $711 million from $675 million a year ago and 2.2 per cent sequentially from $696 million a quarter ago.

"Operating margin at 21.9 per cent declined marginally (0.7 per cent) YoY from 22.6 per cent and remained flat (0.2 per cent) from 21.7 per cent a quarter ago in rupee and dollar terms," said the filing.

Buoyed by robust annual growth in the third quarter, the firm revised upwards its revenue guidance for fiscal 2019-20 to 10-10.5 per cent in constant currency.

"Revenue guidance is increased to 10-10.5 per cent in constant currency for fiscal 2019-20 from 9-10 per cent projected on October 11, 2019," it said in the filing.

Infosys, however, maintained the operating margin guidance range at 21-23 per cent for the fiscal.


 

Source: IANS