Infosys Q3 profit up 21.4%; revenue growth forecast raised

The country's second-largest software services firm, Infosys, today reported a 21.4 per cent increase in net profit to Rs 2,875 crore in the third quarter ended December 31.
Profit was Rs 2,369 crore in the same period a year earlier.
Revenue rose 25 per cent to Rs 13,026 crore from Rs 10,424 crore, Infosys said in a BSE filing. Analysts had expected profit to increase 13-16 per cent and revenue to climb by 23-26 per cent.
"The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives," Infosys CEO and Managing Director S D Shibulal said.

The company continues to differentiate itself to seize growth opportunities, he added.
"The recent changes in organisational structure will enable us to strengthen client relationships and increase market share," he said.
Infosys raised its revenue growth forecast to 24.4-24.9 per cent for the financial year ending March 31, 2014, from 21-22 per cent estimated earlier.
The company's shares gained 1.88 per cent to Rs 3,515.90 in early trade on the BSE.