Infosys Q3 Profit Rises 12% To ₹ 5,809 Crore As Digital Push Boosts Demand

Infosys Ltd on Wednesday reported nearly 12 per cent rise in December-quarter profit, on strong demand for its software services from global businesses transforming their digital infrastructure.

The Bengaluru-based company's consolidated net profit for the third quarter (Q3) climbed to ₹ 5,809 crore ($786.06 million), from ₹ 5,197 crore a year earlier.

Revenue from operations at the country's second biggest software services firm by revenue rose to ₹ 31,867 crore.

Further, Infosys raised the FY22 (2021-22) revenue growth outlook to 19.5-20 per cent from the previous guidance of 16.5-17.5 per cent.

"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,'' CEO and managing director of Infosys Salil Parekh told media persons.

He added that “the overall demand environment remains strong”.

“Our deal pipeline is larger than anytime we have in the past. We expect healthy technology spend to continue with large enterprises progressing on digital transformations,” Mr Parekh added further.

Infosys said it continued to see momentum in the large-deal space with total contract value at $2.53 billion in the third quarter.

(Reuters)