You are here: Home » Companies » Results
Business Standard

Infosys Q3 net rises 12% to Rs 5,809 cr, raises FY22 revenue guidance

Consolidated revenue rose 23% to Rs 31,867 cr

Topics
Infosys

BS Web Team 

infosys

Infosys, the country's second largest software exporter, on Wednesday reported 12% increase in consolidated net profit at Rs 5,809 crore for the quarter ending December 2021. It was Rs 5,197 crore in year-ago period.

Consolidated revenue rose 23% to Rs 31,867 crore as againt Rs 25,927 crore a year ago. The company revised its revenue guidance for FY22 upwards to 19.5%-20% on a constant currency basis, compared with the 16.5%-17.5% growth predicted in October.

On Wednesday, Infosys' scrip on BSE closed 1.1% higher at Rs 1,877.60.

"Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation. This stems from four years of sustained strategic focus on areas of relevance for our clients in digital and cloud, continued re-skilling of our people, and deep relationships of trust that our clients have with us. This is reflected in an upgrade in our revenue guidance to 19.5%-20.0% for FY22. We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations”, said Salil Parekh, CEO and MD.

The Bengaluru-based IT firm's banking, financial services and insurance unit, which accounts for over a third of the total, posted a 16.85% growth in the quarter.

India's $194-billion IT industry has been a big beneficiary from the pandemic spurring global to bolster investments in services ranging from cloud-computing, digital payment infrastructure to cyber-security.

“Despite the cost escalations driven primarily by supply side challenges, we delivered another quarter of healthy margins, with improved cost optimisation, continued operating leverage and a stable pricing environment," said Nilanjan Roy, Chief Financial Officer.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 12 2022. 16:20 IST
RECOMMENDED FOR YOU
.