Infosys gains after Q3 results

Infosys was up 0.87% to Rs 1,087.80 at 9:19 IST on BSE after consolidated net profit rose 37.65% to Rs 5129 crore on 1.29% growth in net sales to Rs 17794 crore in Q3 December 2017 over Q2 September 2017.

The result was announced after market hours on Friday, 12 January 2018. The result is as per Indian Accounting Standards (Ind-AS).

Meanwhile, the S&P BSE Sensex was up 194.59 points, or 0.56% to 34,786.98.

On the BSE, 32,000 shares were traded in the counter so far, compared with average daily volumes of 3.77 lakh shares in the past two weeks. The stock had hit a high of Rs 1,092.05 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 1,065.50 so far during the day. The stock hit a 52-week low of Rs 861.50 on 22 August 2017.

On a consolidated basis, Infosys expects its revenues for the fiscal year ending 31 March 2018, under International Financial Reporting Standards (IFRS), to grow 5.5%-6.5% in constant currency. The revenues are expected to grow 2.1%-3.1% in rupee terms based on the exchange rates as of 31 December 2017. The revenues are expected to grow 6.5%-7.5% in dollar terms based on the exchange rates as of 31 December 2017.

The company's CEO & MD, Salil Parekh, said that Q3 performance was strong. The company had 8% year-on-year growth and 24.3% operating margin with $593 million of free cash flow. The company is progressing towards stability and is well positioned to serve its clients in the new areas of demand.

Infosys' COO, Pravin Rao, said that increased adoption of its digital offerings and new services helped stabilise price realization. The company was able to grow client relationships across revenue categories. During the quarter, the company provided compensation increases and higher variable payouts to its employees. The company's investments in employees continues to deliver results as reflected in lower attrition.

The company's CFO, M.D. Ranganath, said that the company's operating margins were stable on the back of broad-based improvement in operational efficiency parameters. The compay's cash generation continued to be robust during the quarter. The company successfully executed the share buyback of Rs 13000 crore in line with its capital allocation policy.

Infosys is a global leader in technology services and consulting.

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