Infosys Q3 results: Profit rises 21.35 pct to Rs 2,875 crore, beats estimates

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With NR Narayana Murthy at helm, Infosys is back to being IT bellwether. With NR Narayana Murthy at helm, Infosys is back to being IT bellwether.
SummaryInfosys Q3 results unveiled, guidance raised, growth projected at 12 pct.

Infosys Ltd raised its sales growth outlook for the year after posting a higher-than-expected 21.35 per cent rise in consolidated net profit for Q3 (October-December quarter) as improving US and European economies revived demand for outsourcing services.

The net profit stood at $463 million as against $434 million in the year ago period. Infosys' revenue for the quarter grew 9.9% year-on-year to $2100 million. In rupee terms, India’s second largest IT services exporter reported a 21.35% rise in consolidated net profit for the quarter ended December. The company posted a net profit of Rs 2875 crore as compared to Rs 2,369 crore in the corresponding period a year ago. Revenues grew 24.96% to Rs 13,026 crore as compared to Rs 10,424 crore in the corresponding period a year ago.

Infosys increased its guidance for dollar revenue growth in FY14, projecting a growth of between 11.5-12% as against 9-10% it had earlier expected.

“The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives.” said S D Shibulal, CEO and Managing Director, Infosys. “We continue to differentiate ourselves to seize growth opportunities. The recent changes in organizational structure will enable us to strengthen client relationships and increase market share.”

Infosys and its subsidiaries added 54 clients during the quarter and the gross addition of employees was at 6,682.

“During the quarter, we saw early but promising results of our initiatives to increase efficiency in our operations” said Rajiv Bansal, Chief Financial Officer. “We continue to remain focused on making investments necessary to secure and grow our future.”

Infosys' shares were trading at Rs 3,555.85, up more than 3 per cent at 11.15 am on the Bombay Stock Exchange.

“The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives.” said S D Shibulal, CEO and Managing Director, Infosys. “We continue to differentiate ourselves to seize growth opportunities. The recent changes in organizational structure will enable us to strengthen client relationships and increase market share.”

Infosys and its subsidiaries added 54 clients during the quarter and the gross addition of employees was at 6,682.

“During the quarter, we saw early but promising results of our initiatives to increase efficiency in our operations” said Rajiv Bansal, Chief Financial Officer, Infosys. “We

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