Infosys beats Street estimates in Q3, PAT grows 37.6% QoQ
NEW DELHI: Infosys, the second largest IT major, on Friday reported a 37.65 per cent sequential rise in net profit at Rs 5,129 crore for the December quarter. The number came way higher than Rs 3,599 crore anticipated by analysts in a ET Now poll.
The IT major had reported Rs 3,726 crore net profit in the September quarter.
Revenues for the quarter came in at Rs 17,794 crores; up 1.3 per cent QoQ and 3 per cent on YoY basis.
In dollar terms, the second largest IT company reported a sequential growth of 1 per cent. In constant currency terms, the growth stood at 0.8 per cent.
The IT major has retained its FY18 dollar revenue growth of 5.5-6.5 per cent in constant currency (CC) terms. besides, the IT company maintained its FY 18 operating margin range guidance at 23 per cent to 25 per cent.
“We had 8 per cent year-on-year growth and 24.3 per cent operating margin with $ 593 million of free cash flow.” said Salil Parekh, CEO & MD.
Attrition at the IT major declined to 15.8 per cent in the third quarter from 17.2 per cent in the second quarter.
In rupee terms, the company forecast revenues at 2.1-3.1 per cent for the ongoing financial year.
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Via:: Economic Times – Stocks