Infosys net zooms 38% for third quarter

Global software major Infosys on Friday reported consolidated net profit of Rs 5,129 crore for the third quarter of fiscal 2017-18, registering 38.3 per cent record annual growth from Rs 3,708 crore in the like period a year ago.

Sequentially too, net profit increased 37.6 per cent from Rs 3,726 crore quarter ago.

In a regulatory filing on the BSE, the IT major said consolidated revenue, however, grew 3 per cent annually to Rs 17,794 crore for the quarter under review (Q3) from Rs 17,273 crore in the same period year ago.

Sequentially too, revenue growth was flat (1 per cent) from Rs 17,657 crore quarter ago.

Under the International Financial Reporting Standard (IFRS), or in dollar terms, net income shot up 45 per cent annually to $796 million in Q3 from $547 million in the like period year ago and 37.6 sequentially from Rs 578 crore a quarter ago.

Consolidated revenue, however, grew 8 per cent annually to $2,755 million from $2,551 million in the like period year ago but remained flat (1 per cent) sequentially from $2,728 million a quarter ago.

--IANS

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