Infosys on Friday reported a net profit of Rs 3,609 crore for the October-December period. That marked a decrease of 12.2 per cent from Rs 4,110 crore in the previous quarter, according to a regulatory filing by the company. The net profit in the quarter ended December 31 fell short of analysts’ estimates. On an average, 25 analysts had estimated the IT major’s net profit at Rs 4,131 crore in the December quarter, news agency Reuters reported citing Refinitiv Eikon data.

Revenue stood at Rs 21,400 crore for the quarter ended December 31, up 3.8 per cent compared with Rs 20,609 crore in the previous three-month period.

In constant currency terms, revenue growth stood at 2.7 per cent in the October-December period. The growth stood at 10.1 per cent in constant currency terms compared to the quarter ended December 31, 2017.

“With increased client relevance, we saw double digit year-on-year growth in Q3 on a constant currency basis,” said Salil Parekh, CEO and managing director, Infosys.

Digital revenues registered a sequential growth of 5 per cent in constant currency terms sequentially (compared with the quarter ended September 30, 2018), and 33.1 per cent annually (year-on-year).

“We also had another strong quarter in our digital business with 33.1 per cent growth and large deals at $1.57 billion which gives us confidence entering 2019”, he added.

Infosys raised its revenue guidance for financial year 2018-19 to 8.5-9.0 per cent in constant currency terms.

The IT company announced a share buyback of Rs 8,260 crore at a maximum price of Rs 800 per share. Infosys also declared a special dividend of Rs 4 per share, according to its filing.

Shares in Infosys closed 0.7 per cent higher at Rs 684.35 apiece on the NSE, outperfoming the broader markets which finished 0.3 per cent lower.

Infosys is the country’s second-biggest software services exporter by market capitalisation after Tata Consultancy Services, which reported a record profit of Rs 8,105 crore for the December quarter on Thursday.

(With agency inputs)

LEAVE A REPLY

Please enter your comment!
Please enter your name here