Infosys Q3 net profit falls 30% to Rs 3,610 crore

NEW DELHI: India’s second largest IT firm, Infosys on Friday reported nearly 30 per cent fall in its net profit for the December quarter. On a year-on-year basis, the company posted a profit of Rs 3,610 crore in Q3 against Rs 5,129 crore in the October-December 2017 quarter.
The company’s revenue from operations in Q3 jumped more than 20 per cent to Rs 21,400 crore when compared with the Rs 17,794 crore in the year-ago period.

The Infosys board has also approved buyback of shares worth up to Rs 8,260 crore at a maximum price of Rs 800 per share. It has also announced a special dividend of Rs 4 per share.

Commenting on the Q3 numbers, Salil Parekh, chief executive and managing director, said, “With increased client relevance, we saw double digit (10.1%) year-on-year growth in Q3 on a constant currency basis. We also had another strong quarter in our digital business with 33.1% growth and large deals at $1.57 billion which gives us confidence entering 2019.”

The IT major said it has revised upwards its FY2018-19 revenue guidance in constant currency to 8.5-9 per cent.

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