Infosys on Thursday posted a 13.4 per cent year-on-year increase in consolidated net profit at ₹ 6,586 crore for the December quarter as against ₹ 5809 crores (after minority interest) in the corresponding quarter last year.
The Bengaluru-based IT firm logged a 20 per cent year-on-year increase in consolidated revenue in the third quarter of the current fiscal at ₹ 38,318 crore. It also raised full-year revenue guidance to 16-16.5 per cent against the previously projected band of 15-16 per cent. The results beat street estimates on both profit and revenue.
“Year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms,” Infosys said in a statement.
Infosys CEO and MD Salil Parekh said that the company continues to gain market share as a trusted transformation and operational partner for clients, as reflected in the large deals momentum.
“Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud, and automation capabilities, and the unrelenting dedication of our employees,” he said.
Infosys attrition rate declined to 24.3% in the December quarter, as compared to 27.1% in the previous quarter. The total number of employees stood at 3,46,845, with women employees comprising 39.4% of the workforce.
Further, the company informed that during its ongoing buyback program, via the open market route, It has repurchased 31.3 million shares worth ₹ 4,790 crores or 51.5 percent of the total authorization of ₹ 9,300 crores at an average price of approximately ₹1,531 per share a compared to the maximum buyback price of ₹ 1,850 per share.
Written by Simran Bafna
