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Infosys Q3 profit up 13 per cent at Rs 3250 cr, beats estimates

Infosys, India’s second largest IT services exporter, reported a year-on-year rise of 13% in consolidated net profit for the third quarter ended December 31, 2014. The company posted a net profit of Rs 3,250 crore as compared to Rs 2875 crore in the corresponding period a year ago.

Analysts, on average, were expecting a profit of Rs 3,153 crore, according to Thomson Reuters.

Infosys, which provides IT services to clients including Apple Inc, Wal-mart Stores and Volkswagen, said the revenues for the quarter rose by 5.91% year-on-year. The company reported a revenue of Rs 13,796 crore as compared to Rs 13,026 crore in the corresponding period a year ago. Sequentially, the company’s net profit increased 4.91% while revenue rose 3.4%.

Infosys, which has been losing market share and battling high staff attrition rates in the last few quarters, is looking to boost growth by focusing on high-margin services including artificial intelligence and automation.

The Vishal Sikka-led company won 59 new clients in the December quarter, it said in a statement. (With Reuters inputs).

Source: Financial Express

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