The country's second-largest IT services player Infosys on Monday reported a 6.3 per cent rise in consolidated net profit to Rs 4,335 crore for March 2020 quarter, and said it is unable to provide revenue outlook for FY 21 due to business uncertainty amid COVID-19 outbreak.
The company had posted a net profit of Rs 4,078 crore in the year-ago period as per IFRS accounting norms, Infosys said in a BSE filing.
Its revenue grew 8 per cent to Rs 23,267 crore in the quarter under review from Rs 21,539 crore in the corresponding period last fiscal, it added.
"Considering the business uncertainty emanating from COVID-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," the filing said.
Infosys CEO and MD Salil Parekh said Infosys team has achieved 93 per cent remote working on Monday and ensuring consistent service delivery for clients in this rapidly changing environment.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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.