Infosys posts 16.6 pc YoY growth, beats estimates

Jan 14 2021 07:43 AM
Infosys posts 16.6 pc YoY growth, beats estimates

IT major Infosys on Wednesday reported a 16.6 percent year-on-year growth in its consolidated net profit for the October-December period at Rs 5,197 crore. Its net profit during the corresponding period of the previous fiscal (FY2019-20) stood at Rs 4,457 crore.

The company reported a revenue of Rs 25,927 crore during the period under review, higher by 12.3 percent from Rs 23,092 crore earned during the third quarter of FY20. Salil Parekh, CEO and MD of the company said: "The Infosys team has delivered another quarter of excellent results. Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry."

He said that the scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls Royce demonstrates the depth of digital and cloud capabilities of Infosys. Sales from digital services surged more than 31% on year in constant currency terms. This compares to the company's overall sales growing 6.6% on year in constant currency terms, and 8.4% in dollar terms. The sales rose 5.3% sequentially in constant currency terms, the company's best performance in eight years for Q3.

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