Infosys Reports 16.8% Jump In Q3 Net Profit

On Wednesday, Infosys Ltd reported a 16.8% increase in consolidated net profit at Rs 5,215 crore for the December-ended quarter when compared to Rs 4,466 crore in the same quarter of the previous year.

The IT company's gross revenue for the quarter rose 12.3% to Rs 25,927 crore for the third quarter of the financial year 2020-21. In constant currency terms, revenue growth was 6.6%.

Its operating margin for the third quarter stood at 25.4%, up 350 basis points from the same period in the last year. Digital revenues of the company crossed 50% of the total revenue during the quarter, resulting in year-on-year growth of 31.3% in constant currency. Its free cash flow stood at Rs 5,683 crore.

Infosys signed large deals worth $7.13 billion during the quarter.

"Infosys 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. The scale of new client partnerships with leading global companies such as Vanguard, Daimler and Rolls-Royce demonstrate the depth of digital and cloud capabilities of Infosys," said CEO Salil Parekh.

The company has approved a definitive agreement to purchase assets and employees of Carter Digital, an Australian design agency. The cost of the transaction was not disclosed.

The company's board has awarded stock units worth Rs 3.25 crore to Salil Parekh and Rs 1.75 crore to one unnamed key management professional.

Shares of Infosys closed 1.23% higher at Rs 1,388.65 apiece.