New Delhi: Software services firm Infosys on Wednesday reported 11.77 per cent jump in consolidated net profit for the third quarter (Q3) ended December 31, 2021.
The Bengaluru-based company posted a net profit of Rs 5,809 crore, up 11.77 per cent from Rs 5,197 crore posted in the same period last year.
In terms of quarter-on-quarter growth, Infosys reported a growth of 7.15 per cent in net profit. The company had posted a net profit of Rs 5,421 crore in the previous quarter ended September 30, 2021.
Infosys’ revenue grew 22.9 per cent to Rs 31,867 crore for the quarter ended December 2021, from Rs 25,927 crore in the year-ago period.
The IT firm said its growth remained broad-based and deal momentum was strong, with digital transformation accelerating across all sectors and sectors.
Its operating margin for the quarter remained healthy at 23.5 per cent, with free cash flow conversion at 92.6 per cent.
The company said the major deal signings for the said quarter were $2.53 billion, which is up about 18 percent compared to Q2.
Infosys Chief Executive Officer (CEO) and Managing Director (MD) Salil Parekh said: “Our strong performance and market share gains are a testament to the enormous trust our customers have in us to help them in their digital transformation. Stems from years of continued strategic focus on areas relevant to our customers in the digital and cloud, the constant re-skilling of our people, and the deep relationships our customers have with us.
Infosys expects revenue growth of 19.5 per cent-20 per cent on a constant currency basis till March fiscal, compared to an estimated 16.5 per cent-17.5 per cent growth in October.
The company’s voluntary quitting rate for IT services rose to 25.5 percent for the period from 11 percent a year ago.
Shares of Infosys closed at Rs 1,877.6, up 1.16 per cent on the BSE, while it closed at Rs 1,875.8 on the NSE.
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