Infy clocks net of Rs 3,708 crore for Q3, changes guidance

Infy clocks net of Rs 3,708 crore for Q3, changes guidance

 Bengaluru-based, IT giant Infosys has clocked net profit of Rs 3,708 crore for the quarter ended December 31, 2016, up 7% as compared with Rs 3,465 crore for the corresponding quarter last year.

The gross profit of the company increased to Rs 5,154 crore, as against Rs 4,761 crore in the corresponding quarter last year. While the revenues of the company jumped by 8.6% to Rs 17,273 crores, from Rs 15,902 crores.

“Taking into account seasonal and other additional headwinds for the quarter, our Q3 revenue performance was broadly in line with our expectations,” Vishal Sikka, CEO and MD, Infosys said.

On guidance front, revenue guidance revised to 8.4%-8.8% from 8.0%-9.0% in constant currency.

During the quarter, the company paid interim dividend including tax of Rs 3,029 crore. The earnings per share of the company grew by 7.0%, and stood at Rs 16.22, as against Rs 15.16 in the corresponding quarter last fiscal.

The company has appointed Ravikumar S. as Deputy Chief Operating Officer reporting to Pravin Rao, Chief Operating Officer, with immediate effect. In addition to his current responsibility of heading the global delivery organization, Ravikumar S. will oversee certain strategic Business Enabling Functions and will be based in India, the company said.

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