Infosys Q3 profits up 7% to Rs 3,708 crore, revenue rises 8.6%

India’s second- largest IT services provider Infosys posted a 7 per cent growth in third quarter profits to Rs 3,708 crore for the quarter ended December 2016 as against Rs 3,465 crore in the same period last year, as it looked at improving efficiency in a traditionally weak period.

Revenue rose 8.6 per cent to Rs 17,273 crore in the three month period to December as against Rs 13,796 crore last year.

“Taking into account seasonal and other additional headwinds for the quarter, our Q3 revenue performance was broadly in line with our expectations, said  Vishal Sikka, CEO and MD in a statement.

The company revised for the third time its annual guidance marginally to 8.4-8.8% from its earlier forecast of 8-9%. Infosys shares traded 2 per cent high on its Q3 financial results.

On Thursday, shares of Infosys rose by over 3 per cent ahead of its financial results. The stock gained 3.20 per cent to settle at Rs 1,000.05 on BSE. Intra-day, it rose by 3.65 per cent to Rs 1,004.40. At NSE, shares of the company went up by 3.19 per cent to end at Rs 1,000.05.