Infosys Q3 net profit rises 37.6% to Rs 51.29 billion

 

New Delhi, Jan 12: Information technology giant Infosys on Friday said its net profit for the quarter ended December 2017 rose 38% sequentially to Rs 51.29 billion as against Rs 37.26 billion in previous quarter.
On sequential terms, revenue rose 1.3% to Rs 177.94 billion as compared to Rs 175.67 billion in September quarter.
The net profit rose 38.3% as against Rs 37.08 billion in December 2016 and revenue rose 3% when compared to Rs 172.73 billion in year-ago period.
The company retained its FY18 revenue growth forecast in constant currency at 5.5%-6.5%. Infosys president Rajesh Murthy has resigned and will leave by January 31.
Standalone attrition declined to 15.8% during the quarter from 17.2% in September quarter. The company made gross client additions of 79 during the quarter.
Company’s FY18 operating margin range unchanged at 23-25%. This is the first quarterly results since Salil Parekh took charge as the new CEO and MD at Infosys on January 2.
Parekh’s appointment came after the abrupt resignation of Vishal Sikka, who had quit in August following public spat with co-founders led by N R Narayana Murthy.
“Our Q3 performance is strong… We are progressing towards stability and are well positioned to serve our clients in the new areas of demand,” Parekh said.
Net employee addition was 3,251 in December quarter. The company’s numbers were helped by tax benefits from the firm’s deal with the US Internal Revenue Service (IRS).

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