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Infosys Net Profit For Q3 At Rs 3,465 Crores; Beats Estimates
Software and IT major Infosys, reported profit after tax that beat analysts and street estimates.
The company reported a net profit higher by 1.94 percent to Rs 3,465 crore and revenue rising 1.7 percent to Rs 15,902 crore quarter on quarter.
The company, beating the street estimates which were expecting net profits at around Rs 3,300 crores.
Dollar revenue for the quarter was higher by 0.6 percent to USD 2,407 million from USD 2,392 million on sequential basis.
The company also appointed Dr. Punita Kumar Sinha as an Independent Director. The appointment is effective from January 14, 2016. Also re-appointed Prof. Jeffrey S. Lehman, Independent Director of the Company for a term of two years with effect from April 14, 2016.
Attrition rate declined to 18.1 per cent during the quarter compared to 19.9 per cent in preceding quarter.
The company revised dollar revenue growth guidance higher to 8.9-9.3 per cent from earlier 6.4-8.4 percent.
Infosys maintained constant currency dollar revenue growth guidance at 10-12 per cent for FY16.
Shares of the company were seen trading at Rs 1,135 higher by 4.93 per cent on BSE at 9.54 am IST. It touched an intra-day high of Rs 1,139 during the trade.
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