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Infosys third-quarter profit falls 29.6 percent, misses estimates


(Reuters) - Indian IT services bellwether Ltd on Friday reported a 29.6 percent fall in third-quarter net profit, well below market expectations.

Profit attributable for the three months through Dec. 31 was 36.09 billion rupees ($511.94 million), missing the average estimate of 41.31 billion rupees from 25 analysts compiled by Refinitiv Eikon.

Last year, it made a profit of 51.29 billion rupees, helped by tax benefits from the firm's deal with the

India's second-biggest by market cap after said revenue from operations in the quarter rose 20.3 percent to 214 billion rupees.

($1 = 70.4960 Indian rupees)

(Reporting by Arnab Paul and additional reporting by Krishna V Kurup in Bengaluru; editing by and Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, January 11 2019. 16:31 IST