Infosys Q3 net up 6.6% at Rs 3,465 cr

Revenues stand at Rs 15,902 crore

Infosys Q3 net up 6.6% at Rs 3,465 cr

 India’s second largest software exporter Infosys on Thursday reported a growth of 6.6 per cent year-on-year in the net profit for the quarter ended December 31, 2015.

The net profit of the company stood at Rs 3,465 crore as compared with Rs 3,250 crore for the corresponding quarter, last year.

The revenues of the company stood at Rs 15,902 crore as compared with Rs 13,796 crore for the corresponding quarter, last year with a y-o-y growth of 15.3 per cent. The operating expenses of the company increased by 18.7 per cent to Rs 1,953 crore as compared with Rs 1,645 for the corresponding quarter last year.

The top five clients have contributed 13.9 per cent to the revenues of the company. The company has generated 96.8 per cent of its revenues from repeated business clients. The revenue per FTE of the company decreased by 1.4 per cent on y-o-y basis and stood at $50,500, as compared with $51,200 for the corresponding quarter, last year. The employee strength of the company stood at 1,93,383 up 5,407 employees from the previous quarter.

Business IT Services of the company contributed 61.2 per cent to its revenues, followed by Consulting, Package Implementation and others segments (33.8 per cent) and Products, Platforms and Solutions segment (5.0 per cent). On the geographical front, North America contributed 62.5 per cent of the revenue, up from 61.6 per cent for the corresponding quarter, last year, while Europe contributed 23.2 per cent to the revenue, down from 24.0 per cent for the corresponding quarter, last year.

“We are starting to see creative confidence blossoming within Infosys — David Kelley’s beautiful idea that innovation is not specific to one department but is an ability within all of us, waiting to unleash our full creative potential,” said Infosys CEO and MD Vishal Sikka.

“Alongside grassroots innovation, we continue to see the growing adoption of our Aikido services, bringing the power of intelligent systems, automation and software to amplify the skills and imaginations of our people.”

“This combination helped us deliver encouraging results despite the traditional seasonality of the quarter and the additional headwinds, and will strengthen the execution of our strategy towards consistent profitable growth,” he added. He also stated that they are expecting to get back to the industry leading growth by next fiscal.

The company has raised FY16 revenue forecast to 12.8-13.2 per cent in constant currency terms from 10-12 per cent. In INR terms, company has increased forecast to 16.2-16.6 per cent based on the exchange rates as of December 31, 2015. Shares of Infosys jumped 4.28 per cent, to close at Rs 1,128.70, on Thursday.

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