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Infosys posts better-than-expected third-quarter profit on tax deal


(Reuters) - India's second-biggest IT services exporter Infosys Ltd posted third-quarter profit well above estimates, helped by tax benefits from the firm's deal with the U.S. Internal Revenue Service (IRS). The company had signed an Advance Pricing Agreement with the U.S. IRS this week, resulting in an effective tax rate of about 100 basis points lower going forward.The conclusion of the agreement had a positive impact on consolidated basic earnings per share in the quarter by about 6.29 rupees. The company's basic earnings for the quarter was 22.55 rupees per share, it said. Profit rose ...

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First Published: Fri, January 12 2018. 16:32 IST