Infosys Q3 results were announced on Thursday and the company beat market expectation by posting a rise of 6.6 per cent year-on-year consolidated net profit figures to Rs 3,465 crore for the quarter ended Dec 2015. Investors cheered Infosys Q3 results as its shares were trading 5.14 per cent up at Rs 1137.95 in early trade.
Below are the top 10 key takeaways from Infosys Q3 results:
Net Profit: Infosys on Thursday reported 6.6 per cent year-on-year and 1.97 per cent quarter-on-quarter growth in its consolidated net profit figures to Rs 3,465 crore for the quarter ended December 30,2015. The IT major posted bottom line figures of Rs 3,250 crore in the corresponding quarter a year ago.
Revenue: Consolidated revenue of the company jumped 15.26 per cent yoy and 1.70 per cent qoq to Rs 15,902 crore.
Operating Profit: Operating profit of the company fell marginally to Rs 3,959 crore for the quarter ended December 2015 from Rs 3,993 crore in the sequential quarter ended September 2015. The company posted operating profit of Rs 3,689 crore in the corresponding quarter a year ago.
Outlook: For the financial year ended March 2016, the company increased revenue growth guidance to 12.8 per cent-13.2 per cent in constant currency and 16.2 per cent-16.6 per cent in rupee terms as on December 31, 2015 exchange rates.
Acquisition and Investment: During the quarter, the company completed the acquisition of Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry. It also invested in WHOOP, an early stage company that offers a performance optimisation system for elite professional sports teams, and invested in CloudEndure, a startup that provides Cloud Migration and Cloudbased Disaster Recovery (DR) software.
Board Changes: On January 14, 2016, the board appointed Punita Kumar Sinha as an independent director with immediate effect.
Corporate Social Responsibility: For this fiscal, Infosys has pledged Rs 270 crore towards Corporate Social Responsibility (CSR) that is primarily being carried out through the Infosys Foundation, its philanthropic arm. As of December 31, 2015, the Infosys Foundation has invested Rs 171 crore on areas related to education, healthcare, destitute care, arts & culture and rural development.
Liquid Assets: The company’s liquid assets including cash and cash equivalents, available-for-sale financial assets and government bonds were Rs 31,526 crore as on December 31, 2015 as compared to Rs 32,099 crore as on September 30, 2015.
What Sikka said: “We are starting to see creative confidence blossoming within Infosys – David Kelley’s beautiful idea that innovation is not specific to one department but is an ability within all of us, waiting to unleash our full creative potential. We are seeing Infoscions becoming innovators, bringing innovation and client value to each individual project. This confidence can only come from a culture of learning and empowerment, and this is the kind of company we are endeavoring to create,” said Vishal Sikka, CEO and MD in a release. “Alongside grassroots innovation, we continue to see growing adoption of our Aikido services, bringing the power of intelligent systems, automation and software to amplify the skills and imaginations of our people. This combination helped us deliver encouraging results despite the traditional seasonality of the quarter and the additional headwinds, and will strengthen the execution of our strategy towards consistent profitable growth.”
Attrition: Attrition declined to 13.4 per cent on standalone basis and 18.1 per cent on consolidated basis.
