Infosys’ net profit up over 13 pc in Q3

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BENGALURU: Software major Infosys on Thursday reported a strong October-December 2022 performance with year-on-year net profit growth of over 13 per cent. The net profit during the quarter was Rs 6,586 crore, the company said in its earnings report.

The IT services firm’s revenue during the December quarter was at Rs 38,318 crore, against Rs 31,867 crore in the same quarter of 2021. This is 20 per cent higher year-on-year.

“Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital, cloud and automation capabilities, and the unrelenting dedication of our employees”, said Salil Parekh, CEO and MD, in a release.

“As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner for our clients. Our end-to-end capabilities and global scale make us a preferred choice as clients look at consolidating vendors”, Parekh added.

The firm’s year-on-year growth was in double digits for most business segments and geographical regions in constant currency terms, it said in a release. Further, attrition reduced “meaningfully” during the quarter and is expected to decline further in the near term, according to Nilanjan Roy, Chief Financial Officer. (ANI)

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