IT Services Company Infosys Q3 Results Net Profit Rises

Infosys Q3 Results: The country’s largest IT company Infosys (IT Services Infosys) has announced its quarterly results. This IT company has got better than expected net profit of 13.4 percent in the third quarter (Q3FY23). At the same time, there has been a 20 percent jump in revenue on an annual basis. The company has also made a tremendous increase in its revenue guidance for the entire financial year (FY23).

How much was the quarterly net profit

According to the quarterly results released on Thursday by IT company Infosys, the net profit of Infosys during the quarter from October to December 2022 stood at Rs 6,586 crore, compared to Rs 5,809 crore in the third quarter of the previous year. In this way, the net profit of Infosys has increased by 13.4 percent on an annual basis. Infosys’ attrition rate has come down to 24.3 per cent. The company has hired 1,627 employees during the December quarter.

increased revenue

The performance of IT company has been good in the country. During the October to December 2022 quarter, Infosys’ consolidated revenue has been Rs 38,318 crore, which is 20 percent higher than the consolidated revenue of Rs 31,867 crore compared to the previous year. The company has increased its revenue guidance to 16-16.5 per cent for the full financial year, from 15-16 per cent in the previous projection. The company has retained its operating margin guidance for FY23 at 21-22 per cent.

what the company said

According to media reports, Infosys CEO and MD Salil Parekh (Infosys CEO & MD Salil Parekh) says that the momentum of Infosys’ large deals shows that we have been consistently successful in winning the trust of our customers, due to which the company’s Market share is increasing continuously. There has been expansion in both the areas of digital business and core services, the result of which is being seen in the form of revenue growth.

The stock rose by 1 percent

Infosys company’s quarterly results were announced on Thursday. Before the results, the company’s shares on BSE have seen a rise of about 1 percent. The company’s stock closed at Rs 1,482, while both the Sensex and the Nifty declined.

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